STOCKHOLM, Sept 28 (Reuters) - Swedish hygiene products maker Essity is proposing to reinstate its dividend at 6.25 crowns per share, it said in a statement on Monday.
The payout matches the initial level put forward for 2019, a proposal the company's board withdrew this spring due to the uncertainty stemming from the new coronavirus pandemic.
"Essity has remained strong with a continued healthy cash flow in 2020," the company said. "The company has a strong balance sheet and financial flexibility."
Essity, which rivals Procter & Gamble and Kimberly-Clark , said the dividend proposal would be addressed at an extraordinary shareholder's meeting on Oct. 28.
(Reporting by Johannes Hellstrom; Editing by Hugh Lawson)
((johannes.hellstrom@thomsonreuters.com; +46850242388; Reuters
Messaging: johannes.hellstrom.reuters.com@reuters.net)
The payout matches the initial level put forward for 2019, a proposal the company's board withdrew this spring due to the uncertainty stemming from the new coronavirus pandemic.
"Essity has remained strong with a continued healthy cash flow in 2020," the company said. "The company has a strong balance sheet and financial flexibility."
Essity, which rivals Procter & Gamble and Kimberly-Clark , said the dividend proposal would be addressed at an extraordinary shareholder's meeting on Oct. 28.
(Reporting by Johannes Hellstrom; Editing by Hugh Lawson)
((johannes.hellstrom@thomsonreuters.com; +46850242388; Reuters
Messaging: johannes.hellstrom.reuters.com@reuters.net)