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NCC slashes dividend by 50 per cent

Publicerad: 1 Februari 2019, 19:32

Tomas Carlsson, CEO of NCC. Photo: NCC.

2018 proved to be a year of purgatory for construction giant NCC. The company reported a loss of SEK 7 per share during the year and furthermore had a negative operating cash flow of SEK 375 million.


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NCC

2018 proved to be a year of purgatory for construction giant NCC. The company reported a loss of SEK 7 per share during the year and furthermore had a negative operating cash flow of SEK 375 million. Moreover, in the third quarter, NCC was forced to make write-downs amounting to SEK 1,565 million.

As a result of the above, the company slashed its dividend for 2018 from SEK 8 per share to SEK 4 per share, leading to its stock price to plummet 8.3 per cent on Wednesday and shedding an additional 1 per cent over the rest of the week. Thus, in total, NCC’s B-share dropped 9.2 per cent from Friday to Friday.

According to CEO Tomas Carlsson, the company is back on path but a lot remains to be done.

Sverrir Thór

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