COVID-19: dividend distribution policy exceptionally revised
Paris, March 18, 2020: Tarkett closely monitors the evolution of the COVID-19 pandemic. In all geographies, Tarkett is applying all required actions to protect its employees, customers and partners and to participate to the global efforts to contain the spread of the virus.
As the economic situation remains fluid, we are taking all actions to protect our cash-flow and adapt the Group to this new environment. Tarkett will strictly control cost, working capital and capital spending during that period. The Management Board will also propose to exceptionally modify the distribution policy for the year and to suppress the dividend of €0.24 per share in respect of 2019 that was initially announced upon our full year earnings release on February 13th. This will be submitted for approval at the annual general meeting on April 30, 2020.
Notwithstanding its focus on the current situation and its immediate impacts, the Group remains fully committed to execute its strategic initiatives and in particular its cost reduction program to deliver on its mid-term financial objectives. Tarkett’s priority is also to support its customers throughout this difficult period and to ensure that employees get the required assistance.
Financial calendar
- April 28, 2020: Q1 2020 financial results - press release after close of trading on the Paris market and conference call the following morning
- April 30, 2020: Annual General Meeting of Shareholders
Investor Relations Contact
Tarkett – Emilie Megel –
Media contacts
Tarkett - Véronique Bouchard Bienaymé -
Brunswick - - Tel.: +33 (0) 1 53 96 83 83
Forward Looking Statements
This press release may contain forward-looking statements. Such forward-looking statements do not constitute forecasts regarding results or any other performance indicator, but rather trends or targets. These statements are by their nature subject to risks and uncertainties as described in the Company’s annual report registered in France with the French Autorité des Marchés financiers available on its website (). These statements do not reflect the future performance of the Company, which may differ significantly. The Company does not undertake to provide updates of these statements.
About Tarkett
With a history of 140 years, Tarkett is a worldwide leader in innovative flooring and sports surface solutions, with net sales of around €3 billion in 2019. Offering a wide range of products including vinyl, linoleum, rubber, carpet, wood, laminate, artificial turf and athletics tracks, the Group serves customers in over 100 countries across the globe. Tarkett has 12,500 employees and 33 industrial sites, and sells 1.3 million square meters of flooring every day, for hospitals, schools, housing, hotels, offices, stores and sports fields. Committed to change the game with circular economy, the Group has implemented an eco-innovation strategy based on Cradle to Cradle® principles, with the ultimate goal of contributing to people’s health and wellbeing, and preserving natural capital. Tarkett is listed on Euronext Paris (compartment A, ISIN: FR0004188670, ticker: TKTT) and is included in the following indices: SBF 120 and CAC Mid 60. Further information about Tarkett is available from its website .
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