Recipharm’s Board of Directors decides to withdraw dividend proposal
The outbreak of Covid-19 and the extraordinary measures and recommendations that authorities and governments have taken to reduce the spread of the Coronavirus have significantly affected operating conditions on the markets where Recipharm operates.
Recipharm AB’s Board of Directors has therefore decided to withdraw the previously communicated dividend proposal of SEK 1.60 per share and will propose to the Annual General Meeting on May 12, 2020 that no dividend is paid.
The decision does not constitute a change in Recipharm’s long-term dividend policy or future ambitions for dividend.
Given the rapid development of the spread of Covid-19 and the high level of uncertainty currently present, it is too early to quantify the potential impact on Recipharm’s operations and results. A more detailed update on the business situation will be provided in connection with Recipharm´s first quarterly report expected to be published on May 7 2020.
This information is information that Recipharm AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above at 20:00 CET on 8 April, 2020.
Recipharm is a leading Contract Development and Manufacturing Organisation (CDMO) in the pharmaceutical industry employing almost 9,000 employees. Recipharm offers manufacturing services of pharmaceuticals in various dosage forms, production of clinical trial material and APIs, and pharmaceutical product development. Recipharm manufactures several hundred different products to customers ranging from big pharma to smaller research and development companies. Recipharm’s turnover is approximately SEK 7.5 billion. The company operates development and manufacturing facilities in France, Germany, India, Israel, Italy, Portugal, Spain, Sweden, the UK and the US and is headquartered in Stockholm, Sweden. The Recipharm B-share (RECI B) is listed on Nasdaq Stockholm.
For more information on Recipharm and our services, please visit www.recipharm.com