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 2019/19 2017/18 2016/17 2015/16 2014/15
Ordinary dividend per share, DKK 5.46 5.0 5.0 4.00
Extraordinary dividend per share, DKK 100.00 14.65 5.85 5.90
Total dividend per share, DKK 105.46 19.65 10.85 9.90
Total dividend DKK million 1,603 335 185 168

Note: Ordinary dividend are listed under the financial year that formed the basis for pay-out whereas extraordinary dividend are listed under the financial year in which they where paid.

Last update: September 27, 2018.