Distribution of funds to shareholders
Dividend 2007
The Annual General Meeting on April 1, 2008, adopted the proposed dividend for 2007 amounting to SEK 4.25 per share, for a total dividend payment of approximately SEK 1,197m. The dividend corresponds to 37% of income for the period, excluding items affecting comparability. The record date was set as April 4, 2008, and cash dividends were expected to be paid from VPC on April 9, 2008.
Redemption of shares in January 2007
On the basis of the Group’s strong balance sheet after the spin-off of Husqvarna, an Extraordinary General Meeting in December 2006 resolved upon a mandatory redemption of shares at SEK 20 per share in accordance with the proposal by the Board of Directors. This corresponded to a capital distribution of SEK 5,579m to Electrolux shareholders. Payment to shareholders was made at the end of January 2007.
The purpose of the redemption procedure was to adjust Electrolux capital structure and thereby contribute to increased shareholder value. After the capital distribution, Electrolux has a capital structure that will provide the flexibility that is necessary for Electrolux to implement its strategy, which includes investments in product development, building the Electrolux brand, and conducting restructuring measures as well as growth through possible acquisitions.
More information on the redemption procedure can be found in the information brochure that was distributed prior to the meeting. Information from the Swedish tax authority is available under Tax information.
Distribution of Husqvarna in June 2006
According to the decision of the AGM 2006 all shares in the wholly owned subsidiary Husqvarna AB have been distributed to the shareholders in Electrolux. Holders of Electrolux shares on the record date June 12, 2006, have recived one A- or B-share in Husqvarna for every A- or B-share in Electrolux. The price of the Electrolux share was adjusted on June 8 to reflect the fact that Husqvarna is no longer part of Electrolux. Trading in the Husqvarna shares started on June 13, 2006, on the O-list of the Stockholm Stock Exchange.
For information on the operations and the share in Husqvarna please visit their website. Information is also available in the prospectus to the right. Information from the Swedish tax authority is available under Tax information.