The Covid-19 virus outbreak has and has in recent weeks significantly increased market uncertainty and had extraordinary adverse impact on debt and equity markets.
ABGSC is lean, well capitalised and employ some of the best people in our industry. Although we must expect some challenging quarters ahead, we are confident that we will benefit from our diversified revenue base and energetic partnership culture. While we have implemented all of the measures necessary for the health and safety of our employees, we have adapted well to new realities and our activity level is currently very high throughout the organisation. Revenues for Q1 2020 will also exceed the corresponding figure for 2019 (Q1 2020 figures will be released on 28 April 2020).
Still, as a matter of prudence and in light of the unpredictability of the global situation, the Board has decided to reduce its final 2019 dividend proposal from NOK 0.27 to NOK 0.22 per share, thus implementing our new 80% distribution target with effect from H2 2019.
The Board of Directors of ABG Sundal Collier Holding ASA approved a new company's Annual Report 2019 on 6 April 2020 reflecting the new proposed dividend. Please find attached the new Annual Report for 2019.