SBC News Svenska Spel sanctions SEK 3.2bn in direct state dividends    

Svenska Spel sanctions SEK 3.2bn in direct state dividends    

The board of Svenska Spel has proposed an additional SEK 3.2 billion (€310m) dividend to be paid to the Swedish government, to assist emergency services in the fight against the COVID-19 pandemic. 

The proposed dividend will be paid directly from Svenska Spel’s corporate accounts, with the transaction scheduled to be sanctioned at the company’s AGM on Tuesday 27 April.

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

“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 facing severe COVID-19 headwinds, during 2020 Svenska Spel achieved its social responsibility objectives, raising a record SEK 1.8 billion (€175m) for Swedish good causes.

Furthermore, Svenska Spel waived its corporate profits of SEK 445 million (€43m) to be directly redistributed to Swedish charities.  

“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,” said Patrik Hofbauer, President and CEO of Svenska Spel. 

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

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