In March last year, when hospitals were filled, people died, countries and factories closed and the stock market collapsed, quite a few probably predicted what would be in focus in the stock market giants' financial statements over the pandemic year: that it would not be about mass warnings, bankruptcy threats and closures.
Except for billions of rain to the shareholders.
Now I'm going to state something that I do not know for sure is true.
The main objection is the sky-high average age of almost every AGM I have been to in the last 25 years.
But still: I dare say that the vast majority of shareholders on the Stockholm Stock Exchange receive their first share dividend after the corona outbreak before they receive their first vaccine dose.
This is not least exceptional given how improbably fast the vaccine has actually been developed.
Gratefully received support
During the spring crisis with closed factories and a halt in demand, many companies on and off the stock exchange gratefully accepted the government's state layoff support, sometimes for thousands of employees.
In this way, they were paid for a large part of the salaries of employees even though they did not work full time.
But when SVT's review showed that several of the largest listed companies intended to combine government subsidies with dividends, many withdrew their proposed dividends.
At this spring's AGMs, the shareholders in the 30 most traded companies on the Stockholm Stock Exchange lost SEK 138 billion in dividends that they had previously been notified of.
Some did the opposite and withdrew their applications or paid back support, in order to distribute to shareholders.
SKF notified staff of redundancies instead of laying off.
During the autumn, the situation became significantly brighter for many companies.
Some, including Electrolux, Atlas Copco and Assa Abloy, called for an extraordinary general meeting and distributed money instead.
In total, this involved just over SEK 20 billion in the largest companies.
But that is coffee money compared to what the shareholders are hoping for now.
In the financial statements for 2020, the companies will report their profits, but also the board's proposed dividend for 2020.
Sandvik and Investor first out
Sandvik and Wallenberg's power company Investor became the first among the stock market giants today.
Investor, which canceled part of the dividend last year, intends to distribute SEK 10 billion to shareholders at the meeting this spring.
Investor owns large holdings in Ericsson, Electrolux, Atlas Copco and SEB, among others.
Sandvik's CEO was proud of the highest operating margin so far in the company's history in the fourth quarter.
Profits decreased, but only by seven percent.
Sandvik, which canceled the entire share dividend last year, is now distributing eight billion.
Sandvik has made extensive reductions, and also received layoff support from the Swedish taxpayers.
However, it will still be allowed to distribute if you have not received redundancy support recently, and do not plan to do so again.
So now the board has to choose, and that seat has more stock market giants in it.
Swedbank has called for an extraordinary general meeting to distribute SEK 4 billion already in February.
The other three major banks withdrew a total of SEK 40 billion last year.
They certainly burn in the bank pockets.
Volvo withdrew a total of SEK 27 billion in dividends last year, had 20,000 laid-off employees and received SEK 1.3 billion in government redundancy support.
In the autumn, the company had SEK 60 billion in cash.
In the run-up to the financial statements on 3 February, the board is expected to focus primarily on the unlikely question "What the hell are we going to do with the money?"