0JX9 Marimekko Oyj

Marimekko’s Board of Directors has decided that a dividend of EUR 1.00 per share be paid for 2020, and proposes to the AGM that a regular dividend of EUR 1.60 per share and an extraordinary dividend of EUR 2.00 per share be paid for 2021

 

Marimekko Corporation, Inside Information 15 February 2022 at 7.45 a.m.

Marimekko’s Board of Directors has decided that a dividend of EUR 1.00 per share be paid for 2020, and proposes to the AGM that a regular dividend of EUR 1.60 per share and an extraordinary dividend of EUR 2.00 per share be paid for 2021

Pursuant to the authorization granted by the 2021 Annual General Meeting, the Board of Directors of Marimekko has decided that a dividend of EUR 1.00 per share will be paid for the financial year 1 January–31 December 2020. The dividend will be paid in one instalment to a shareholder who is registered on the dividend payout record date of 17 February 2022 in the company’s Shareholder Register held by Euroclear Finland Ltd on behalf of the Board of Directors of Marimekko Corporation. The dividend payout date is 24 February 2022. 

At the same time, the Board decided to propose to the Annual General Meeting on 12 April 2022 that for the financial year 1 January–31 December 2021, a regular dividend of EUR 1.60 per share and an extraordinary dividend of EUR 2.00 per share be paid. The Board proposes 14 April 2022 as the dividend payout record date and 25 April 2022 as the dividend payout date.

”While Marimekko’s result in 2020 was very good, there were still significant uncertainties related to the development of both the coronavirus pandemic as well as that of the general economic situation. Therefore, the AGM of Marimekko postponed the decision on dividend for 2020. In 2021, the coronavirus pandemic started to become part of the day-to-day operations of companies. Marimekko’s excellent result development also during the past year shows that the company has succeeded in finding functioning ways to mitigate the impacts of the pandemic situation. A steady dividend policy has been our promise to our shareholders, and we want to keep this promise. Marimekko’s balance sheet is in good shape and the company’s net debt to EBITDA ratio is very low, so we have now decided to pay a dividend for 2020, says Mika Ihamuotila, Chair of the Board of Marimekko.

”At the same time, the Board has decided to propose to the AGM that a regular dividend of EUR 1.60 per share and an extraordinary dividend of EUR 2.00 per share be paid for 2021. In its strategy, Marimekko has set a goal to achieve markedly stronger profitable growth than before. As the company’s business model and its strategy of profitable growth does not require significant capital, and our financial position is strong, the Board believes that it is warranted to pay an extraordinary dividend to the shareholders.”

Dividend for 2020

Marimekko’s AGM on 14 April 2021 authorized the Board to decide on the payment of a maximum dividend of EUR 1.00 per share in one or several instalments at a later stage. In accordance with the authorization, the Board has today decided that a dividend of EUR 1.00 per share will be paid for 2020.

According to the company’s long-term financial goals, Marimekko intends to pay a yearly dividend, with the percentage of earnings per share allocated to dividends being at least 50%. The dividend to be paid now represents 58% of comparable earnings per share for 2020, which amounted to EUR 1.72. In 2019, comparable earnings per share were EUR 1.61 and the dividend paid for the year was EUR 0.90 per share, equaling to 56% of earnings per share.

The Board estimates that the dividend for 2020 can be paid since, despite the exceptional circumstances caused by the coronavirus pandemic, the company’s financial position is stable. Marimekko’s liquidity is good and, in the view of the Board, the proposed dividend payout does not jeopardize the company’s solvency.

Proposal for the 2021 dividend

Marimekko’s Board of Directors proposes to the AGM on 12 April 2022 that for the financial year 2021, a regular dividend of EUR 1.60 per share and an extraordinary dividend of EUR 2.00 per share be paid. The Board proposes 14 April 2022 as the dividend payout record date and 25 April 2022 as the dividend payout date.

MARIMEKKO CORPORATION Corporate Communications

Anna Tuominen Tel. +358 40 5846944 anna.tuominen@marimekko.com

DISTRIBUTION: Nasdaq Helsinki Ltd Key media Marimekko is a Finnish lifestyle design company renowned for its original prints and colors. The company’s product portfolio includes high-quality clothing, bags and accessories as well as home décor items ranging from textiles to tableware. When Marimekko was founded in 1951, its unparalleled printed fabrics gave it a strong and unique identity. Marimekko products are sold in about 40 countries. In 2020, brand sales of the products worldwide amounted to EUR 286 million and the company's net sales were EUR 124 million. Roughly 150 Marimekko stores serve customers around the globe. The key markets are Northern Europe, the Asia-Pacific region and North America. The Group employs about 420 people. The company’s share is quoted on Nasdaq Helsinki Ltd. www.marimekko.com