Swedish Match shareholders approve dividend hike to 1.90 SEK
Major items approved by today’s Annual General Meeting include:
- Dividend will increase from 1.70 SEK/share to 1.90 SEK
- Election of Kersti Strandqvist and Sven Hindrikes to the Board
- Mandate to repurchase up to 10 percent of all shares in the Company prolonged
- 12 Million shares repurchased by the Company are authorized to be withdrawn
- Approval of reduction of the share’s nominal value to 1.20 SEK
- Approval of reduction of the parent company’s legal reserves by 114 MSEK
At the Annual General Meeting of Swedish Match on April 27th, it was resolved in accordance with the proposal of the Board of Directors to pay a dividend per share of 1.90 SEK. The record date for the dividend entitlement was set at 2 May, 2005. The dividend is expected to be distributed on 6 May, 2005, through VPC.
Shareholders have re-elected Bernt Magnusson (Chairman), Jan Blomberg, Tuve Johannesson, Arne Jurbrant, Meg Tivéus and Karsten Slotte and elected Kersti Strandqvist and Sven Hindrikes as new members to the Board of Directors.
Furthermore, the shareholders approved an authorization for a reduction in the Company’s share capital by 28.8 MSEK through withdrawal of 12,000,000 shares in the Company. The shares in the Company to be withdrawn have been repurchased by the Company in accordance with previous shareholder authorization. The shareholders also approved a reduction of the parent company’s share capital by a reduction of the shares nominal value from 2.40 SEK to 1.20 SEK as well as a reduction of legal reserves by 114 MSEK. Along with this reduction, 532 MSEK will be transferred from restricted equity to unrestricted equity. The released funds will be used for share repurchases.
Shareholders approved an authorization to decide, prior to the next Annual General Meeting, to acquire a maximum of as many shares as may be acquired without the Company’s holding at any time exceeding 10 percent of all shares in the Company. The shares shall be acquired on the Stockholmsbörsen at a price within the price interval registered at any given time (market price).
The meeting also resolved to allow the Company to issue up to 907,408 call options to a combined value of 9.8 MSEK, which corresponds to the value of options allocated in accordance with the Company’s options program for 2004.
The meeting further adopted a stock option program for senior officials in the Company for 2005. The total value of the stock options allocated shall not exceed a limit of 25.2 MSEK.
In addition, shareholders approved all other proposals made by the Board of Directors as outlined in the published notice of the Annual General Meeting for Swedish Match AB.
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Swedish Match AB (publ), SE-118 85 Stockholm
Visiting address: Rosenlundsgatan 36, Telephone: + 46 8 658 02 00
Corporate Identity Number: 556015-0756
www.swedishmatch.com
For further information, please contact:
Sven Hindrikes, President and Chief Executive Officer
Office +46 8 658 02 82, Mobile +46 70 567 41 76
Lars Dahlgren, Chief Financial Officer
Office +46 8 658 04 41, Mobile +46 70 958 04 41
Bo Aulin, Senior Vice President, Secretary and General Counsel
Office +46 8 658 03 64, Mobile +46 70 558 03 64
Emmett Harrison, Vice President, Investor Relations (IR)
Office +46 8 658 01 73, Mobile +46 70 938 01 73
Richard Flaherty, CFO North America Division, US Investor Relations contact
Office +1 804 302 1774, Mobile +1 804 400 1774
