Sandvik – AGM 28 April 2020
Under ITEM 10, on 7 April 2020, the board of directors of Sandvik has decided to withdraw the previous dividend proposal and instead propose that the Annual General Meeting resolve that no dividend will be paid. ECGS recommends to vote FOR, due to the increased economic uncertainty caused by the Covid-19 pandemic.
Under ITEM 19, ECGS has serious concerns regarding the current financial impact of the Covid-19 pandemic which is expected to result in a major recession for the global economy. Consequently, ECGS is of the opinion that it is not the right moment to proceed to a new share buyback programme. Ethos considers that the potential impact of the Covid-19 induced crisis is not yet known. ECGS therefore considers its not appropriate to seek approval for a new buyback programme and recommends to OPPOSE.
Sandvik is organized into five business areas: Sandvik Mining, Sandvik Machining Solutions, Sandvik Materials Technology, Sandvik Construction and Sandvik Venture. Sandvik Mining specializes in equipment, tools and service for the mining industry. Sandvik Machining Solutions focuses on tools and tooling systems for metal cutting. Sandvik Materials Technology specializes in products made from stainless steel grades and special alloys. Sandvik Construction specializes in equipment, tools and service for the breaking, drilling and crushing niches. Sandvik Venture generates value by promoting growth of small and medium-sized businesses of particular interest to the Sandvik Group.
Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.
Proxinvest main services are :
- Proxy reports
- Definition and monitoring of client customized voting guidelines
- Corporate Governance Data and Rating
- Thematic research
- Engagement support
Proxinvest has been a pioneer and champion of good corporate governance and has grown into a recognised expert in the field.
Proxinvest is independently-owned and only works for investors : Proxinvest does not provide consulting services to the companies it covers, mitigating related risks to its clients and ensuring the independence of our analysis. As a result Proxinvest is able to take a robust, independent, engaged and unconflicted view of the companies in which our clients invest.
As Managing Partner of Expert Corprate Governance Service Ltd (ECGS), Proxinvest has built a large network of corporate governance experts to support clients in corporate governance analysis worldwide.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.