Corticeira Amorim SGPS S A : informs about Annual Shareholders Meeting Notice and about dividends’ proposal
June 04, 2020 at 03:31 am
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PRESS RELEASE
Corticeira Amorim
General Shareholders' Meeting called for June 26
Board of Directors maintains proposed dividend of €0.185 per share
Board of Directors will not propose an extraordinary dividend in December (as it has been done since 2012)
Considering the consequences of the pandemic and the inherent worsening of the economic and social context, in Portugal and across the world, and in view of the high degree of uncertainty regarding the resumption of normal economic activity, the Board of Directors of Corticeira Amorim met, considered and decided to maintain the proposal for the appropriation of profits that it approved on March 23, 2020, which was included in the Management Report for the 2019 financial year, to be presented to the General Shareholders' Meeting
Corticeira Amorim is acting with responsibility in the current period, in line with the deliberately conservative management of the balance sheet that it practices and taking into account the increased prudence that the adverse context requires.
Thus, based on Corticeira Amorim's financial strength and adequate capital structure, the Board of Directors proposes:
to maintain its proposal to distribute a dividend of €0.185 per share; and
not to propose, in the current year, the attribution of an extraordinary dividend in December (as it has been done since 2012).
Mozelos, Portugal, June 4, 2020
Corticeira Amorim, SGPS, S.A.
Edifício Amorim I
Rua de Meladas, 380
4536-902 Mozelos, Portugal
www.corticeiraamorim.com
Representante para as Relações com o Mercado | IRO:
Ana Negrais de Matos, CFA
+ 351227475423
+ 351 227475407ana.matos@amorim.com
Sociedade Aberta
Capital Social: € 133 000 000,00
Pessoa Coletiva e Matrícula: PT500077797 C.R.C. de Santa Maria da Feira - Portugal
instagram: amorimcork
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Corticeira Amorim SGPS SA published this content on 04 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 June 2020 07:30:00 UTC
Tracing its roots back to the 19th century, Corticeira Amorim, SGPS, S.A. has become the world's largest cork and cork-derived company in the world, generating more than EUR 985.5 million in sales to more than 100 countries through a network of dozens of fully owned subsidiaries. With a multi-million Euro R&D investment per year, Corticeira Amorim, SGPS, S.A. has applied its specialist knowledge to this centuries-old traditional culture, developing a vast portfolio of products, solutions and materials that are used by blue-chip clients in industries as diverse and demanding as wines & spirits, aerospace, automotive, construction, sports, architecture and design.
Net sales by business unit break down between Cork Stoppers (75.9%), Composite Cork (12%), Floor and Wall Coverings (9.1), Insulation Cork (1.6%) and Raw Materials (1.4%).
Net sales are distributed geographically as follows: Portugal 6.8%), EU excluding Portugal (61.8%), Other European countries (2%), the United States (16.4%), America excluding the United States (6.5%), Australasia (5.1%) and Africa (1.4%).
Corticeira Amorim, SGPS, S.A.'s responsible approach to raw materials and sustainable production illustrates the remarkable interdependence between industry and a vital ecosystem - one of the world's most balanced examples of social, economic and environmental development.