MARIMEKKO CORPORATION’S BOARD OF DIRECTORS CHANGES THE PROPOSAL FOR DIVIDEND PAYMENT
Marimekko Corporation, Stock Exchange Release, 25 March 2020 at 8:40 a.m.
MARIMEKKO CORPORATION’S BOARD OF DIRECTORS CHANGES THE PROPOSAL FOR DIVIDEND PAYMENT
Marimekko Corporation has today withdrawn its financial guidance, published on 13 February 2020, as the coronavirus situation evolves rapidly and it is not possible to give a precise estimate on the impact of the pandemic on the company’s business at the moment. The Board of Directors of Marimekko has therefore reconsidered the proposal for dividend payment, published in the financial statement bulletin and amounting to EUR 0.90 per share.
The Board of Directors changes its proposal to the Annual General Meeting on 8 April 2020 and proposes that the AGM would authorize the Board of Directors to decide on a dividend payment of a maximum of EUR 0.90 per share to be distributed in one or several instalments at a later stage when Marimekko can make a more reliable estimate on the impacts of the coronavirus pandemic to the company’s business. The authorization would be valid until the next Annual General Meeting. The company will publish the possible decision on dividend payment separately, and at the same time confirm the pertinent record and payment dates.
Marimekko kindly asks that those shareholders, who have given their proxy voting instruction to item 8 according the release detailing the exceptional measures in the AGM published on 23 March 2020, to confirm their voting instruction or to change it by sending a new proxy with voting instructions as detailed in the release of 23 March 2020.
MARIMEKKO CORPORATION
Corporate Communications
Anna Tuominen
Tel.
DISTRIBUTION:
Nasdaq Helsinki Ltd
Key media
Marimekko is a Finnish lifestyle design company renowned for its original prints and colours. The company’s product portfolio includes high-quality clothing, bags and accessories as well as home décor items ranging from textiles to tableware. When Marimekko was founded in 1951, its unparalleled printed fabrics gave it a strong and unique identity. Marimekko products are sold in about 40 countries. In 2019, brand sales of the products worldwide amounted to EUR 251 million and the company's net sales were EUR 125 million. Roughly 150 Marimekko stores serve customers around the globe. The key markets are Northern Europe, North America and the Asia-Pacific region. The Group employs about 450 people. The company’s share is quoted on Nasdaq Helsinki Ltd.
