March 26, 2020 / 7:21 AM / 13 days ago

BRIEF-Umicore To Reduce 2019 Dividend As A Precaution Against Coronavirus Crisis

March 26 (Reuters) - UMICORE SA:

* COVID-19 IMPACT ON UMICORE’S OPERATIONS

* ON CORONAVIRUS: HOBOKEN PLANT, TOGETHER WITH MAJORITY OF UMICORE’S OTHER RECYCLING FACILITIES, IS CONTINUING OPERATIONS

* WITHDRAWAL OF FULL YEAR 2020 OUTLOOK PROVIDED IN FEBRUARY 2020

* DECISION TO REDUCE DIVIDEND IN RESPECT OF FULL YEAR 2019

* AS A MATTER OF PRUDENCE AND IN LIGHT OF EXTREME UNPREDICTABILITY OF GLOBAL SITUATION, UMICORE’S BOARD OF DIRECTORS HAS DECIDED TO PROPOSE A DIVIDEND OF EUR 0.375 PER SHARE IN RESPECT OF FULL YEAR 2019

* UMICORE WILL ASSESS APPROPRIATE AMOUNT TO BE RETURNED TO SHAREHOLDERS IN 2020 ONCE IT GAINS MORE CLARITY AROUND FULL IMPACT OF COVID-19

* UMICORE IS ALSO DELAYING CERTAIN CAPITAL EXPENDITURES PROGRAMS

* ASSUMED AT THAT TIME THAT VIRUS OUTBREAK WOULD NOT RESULT IN A PROTRACTED OR MATERIAL EFFECT ON ECONOMY IN 2020

* WILL PROVIDE FURTHER UPDATES AT TIME OF ITS AGM WHICH WILL BE HELD ON 30 APRIL 2020

* WILL ASSESS APPROPRIATE AMOUNT TO BE RETURNED TO SHAREHOLDERS IN 2020 ONCE IT GAINS MORE CLARITY AROUND FULL IMPACT OF COVID-19 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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