SEB: profit warning and dividend cut

(CercleFinance.com) - Seb announces that "the trajectory of organic sales growth and of increase in Operating Result from Activity (ORA) excluding COVID-19 mentioned earlier is no longer relevant," and that its 2020 sales and ORA will fall sharply.


It believes that its sales (general public and professional) will fall by around 270 million euros in Q1, expecting sales to fall  by significantly more than this in Q2.

Its Board of directors has decided to reduce the dividend to be paid for 2019 by one third compared to that paid in 2019. The dividend proposed to the general meeting of 19 May, to be held behind closed doors, will therefore be 1.43 euro per share.


Copyright (c) 2020 CercleFinance.com. All rights reserved.