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5/12, 7:08 PM (Source: TeleTrader)
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Volvo gives up 2019 dividend proposal

Swedish truck manufacturing company Volvo AB said on Tuesday that it has decided to withdraw its dividend for 2019, due to coronavirus outbreak.

The company’s chairman Carl-Henric Svanberg noted that company will ditch the proposal to pay 5.5 Swedish krona ($0.56) a share and proposed that no dividend for 2019 will be paid, because it “believes it is appropriate to be cautious in order to safeguard the company's long-term development and the ability to act from a position of strength throughout the crisis."

Breaking the News / TF