Norwegian Finans Holding ASA: Key information relating to the cash dividend to be paid by Norwegian Finans Holding ASA
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Dividend amount: NOK 6.00
Based on the Ministry of Finance’s recommendation:
NOK 5.00 to be paid in May 2021
NOK 1.00 to be paid in Q4 2021
In a letter to the Financial Supervisory Authority of Norway dated 20 January 2021, the Ministry of Finance expressed an expectation that Norwegian banks, which after a careful assessment and based on ESRB’s recommendations find a basis for distributions, keep overall distributions within a maximum of 30 per cent of the cumulative annual result for the years 2019 and 2020, up to 30 September 2021.
The Board of Directors proposes for the accounting year 2020, based the current extraordinary situation and the authorities expectations, to the General Meeting, a cash dividend of NOK 5.00 per share, as well as proposing an authorization to the Board of Directors to further pay NOK 1.00 per share in the fourth quarter, after a renewed assessment of the development of Covid-19 and the consequences for the bank. The Board has according to the guidelines from the Ministry of Finance for all banks, initiated a dialogue with the Norwegian FSA to document the assessment for this proposed distribution.
The dividend payments will total to MNOK 1 121 with full payment of NOK 5.00 per share in May and NOK 1.00 per share in the fourth quarter. The dividend to be paid in 2021 will amount to 29.6% of the total net profit after taxes for 2019 and 2020, and in accordance to the approved dividend policy.
Key information on dividend to be paid in May 2021:
Declared currency: Norwegian Krone
Last day including right: 27 April
Ex-date: 28 April
Record date: 29 April
Payment date: as of 6 May
Date of approval: 27 April
For further information, please contact:
Klara-Lise Aasen, CFO, tel: +47 47 63 55 83
Mats Benserud, Head of Treasury, tel: +47 95 89 15 39
This information is published in accordance with the requirements of the Continuing Obligations and is subject to the disclosure requirements according to Section 5-12 of the Norwegian Securities Trading Act.
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