Dividend policy
The Group aims at ensuring a continuously positive cash flow development and consequently the ability to provide our shareholders with an attractive dividend.

The Group has a dividend policy, where Management each year recommends at the Annual General Meeting, that a minimum of 30% of the profit for the year is distributed as an ordinary dividend to shareholders.

After having paid ordinary dividends and with respect of the zero net interest-bearing debt level as at 30 June, any additional surplus liquidity will be distributed to the shareholder through share buy-back or extraordinary dividend.

Dividend payments

Financial year 2015/16 2014/15 2013/14 2012/13 2011/12
Ordinary dividend per share, DKK 4.00 3.00 2.00 1.50
Extraordinary dividend per share, DKK 14.65 5.85 5.90
Total dividend per share, DKK 9.85 8.90 2.00 1.50
Total dividend DKK million 250 168 151 34 25

Last update: April 15, 2016.