H&M drops dividend reinvestment plan
High street fashion retailer H&M has abandoned plans to offer shareholders the chance to reinvest their dividends in new stock.
In a statement, the company said the reinvestment plan would be difficult to implement, both from a technical perspective and due to time constraints.
Consequently, the board of directors has now decided to propose at the retailer’s annual general meeting in May that an unchanged dividend of 9.75 kronor per share is paid for the financial year 2016/2017. The dividend is to be paid in two instalments with one in the spring and one in the autumn.
The company had previously announced in January that the introduction of a dividend reinvestment plan was under consideration.
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