APG|SGA waives dividend for 2019 - salary reduction for GL
APG|SGA shareholders are now to receive no dividends after all due to the current situation. In addition, the Executive Board is waiving part of his salary for the time being.
After a strong start to the year, the direct effects of the COVID-19 measures have led to a significant drop in sales for APG|SGA since mid-March. It is currently not possible to predict how long this situation will last. The Board of Directors has therefore reassessed the situation and will now propose to the Annual General Meeting on 14 May that the planned dividend of CHF 11 per share be waived.
In this extraordinary crisis situation, it is important to remain capable of acting in the interests of customers, market partners and employees and to secure liquidity, as the company writes in a press release on Friday. In addition to the introduction of short-time working and a salary reduction for the company's management, further comprehensive measures to reduce costs and investments were therefore quickly decided.
The Board of Directors has also decided to hold the Annual General Meeting on May 14 without the physical presence of shareholders. Shareholders will be able to exercise their rights in writing or electronically through the independent proxy.
