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Covestro Issues AGM Statement

Covestro (CVVTF.PK) said it entered the fiscal year 2021 with good impetus. The company expects a significant increase over pre-pandemic results from 2019. The Board of Management and the Supervisory Board are proposing a dividend of 1.30 euros per share for the past fiscal year 2020.

CFO Thomas Toepfer said: "Covestro is very solidly positioned and has a robust liquidity reserve. Demand for our products remains intact and we are benefiting from a very positive margin development."

The company said election of a new member of the Supervisory Board is also on the agenda of the 2021 Annual General Meeting. Lise Kingo has been nominated as the new member. She is an independent member of the Board of Directors at Sanofi SA and until June 2020 was CEO and Executive Director of the United Nations Global Compact. Lise Kingo would succeed Ferdinando Falco Beccalli.

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