AB Electrolux Updates Expected Impact From the Coronavirus and Cancels Dividend
AB ELECTROLUX B S/ADR (ELUXY)
NASDAQ:AMEX Investor Relations:
finance.yahoo.com/quote/eluxy
Company Research
Source: PR Newswire
STOCKHOLM, March 23, 2020 /PRNewswire/ -- The rapidly developing situation related to the coronavirus has reinforced Electrolux view of the consequences, with the conclusion that there will be a material financial impact in 2020. The company said it is taking mitigating actions to protect earnings and cash flow. The Board of Directors of AB Electrolux also said it has decided to withdraw its dividend proposal for the AGM 2020 and communicated other revised AGM proposals.On March 15, 2020, Electrolux provided an update on developments related to the coronavirus. The company said at the time there was a considerable risk of a material financial impact during the first half of 2020, related to supply chain disruptions, government countermeasures and changing consumer behavior. In the subsequent days, several additional authorities globally have imposed strict countermeasures, including the closure of industrial activities, retail shops and cross-border transit. This development has cause
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