Svenska Spel proposes additional SEK 3.2bn dividend to Swedish government

Sweden's Svenska Spel has proposed an additional SEK 3.2bn (€310m) dividend to be paid to its government as it continues the fight against the pandemic.
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Swedish lottery operator Svenska Spel has proposed an additional SEK 3.2bn (€310m) dividend to be paid to its government as it continues the fight against the COVID-19 pandemic.

The proposed dividend will be paid directly from Svenska Spel’s corporate accounts to assist emergency services in their battle with the pandemic. The transaction is scheduled to be sanctioned at the company’s AGM on April 27.

Erik Strand, Chairman of the Board, said: “As the operator of Sweden’s national lottery, I am proud that we can contribute to the Treasury through the proposed dividend of SEK 3.2bn.

“Parts of our operations are still affected by the pandemic, but as a whole, we have good growth and profitability for the Group. Therefore, it is also possible to make this extra dividend.”

Despite the impact of COVID-19 headwinds, Svenska Spel achieved its social responsibility objectives in 2020, raising SEK 1.8bn (€175m) for good causes. The lottery operator also waived its corporate profits of SEK 445m (€43m) to be directly redistributed to charities.

President and CEO Patrik Hofbauer added: “In addition to our profits going directly to Swedish citizens, we will continue to invest in society as a major sponsor of Swedish sports and by offering games in a responsible way.

“I am glad that Svenska Spel can repay society in several different ways, especially during this difficult time.”

Back in February. Svenska Spel launched its new nationwide campaign ‘Om Supporterskap’ (Our Support) highlighting its dedication to funding Swedish athletes taking part in the Tokyo Olympic Games.