The Board of Directors of AB Volvo has decided to withdraw the proposal to the Annual General Meeting for an ordinary dividend of SEK 5.50 per share and instead proposes that no dividend for 2019 will be paid.
The Volvo Group has a strong financial position. However, there is a general uncertainty created by COVID-19 and the effects on the Volvo Group from the measures taken in various countries to slow down the spread of the virus. As an effect the Board believes that it is appropriate, as a precautionary measure, to withdraw the dividend proposal.
Click the link below for information on the Swedish withholding tax on dividends on the Swedish Tax Agency’s website.
Swedish Tax Agency’s Website (external link)