Investor

Dividends

NORDEN’s business model aims to equalise the effect of the cyclical movements inherent in the shipping industry. Strong, long-term earnings are the prerequisite for NORDEN to generate an attractive return for its shareholders through dividends and share price increases.

NORDEN pays dividends in due consideration of the Company’s actual earnings, risk management, strategy and investment plans. See more on NORDEN’s strategy and policy on shareholders return.

Dividend payments

2013

At the annual general meeting on 23 April 2014, the Board of Director's proposal for the distribution of profits, including payment of dividends of DKK 5 per share of DKK 1 was adopted. See announcement No 18

2012

At the annual general meeting on 24 April 2013, the Board of Director's proposal for the distribution of profits, including payment of dividends of DKK 3 per share of DKK 1 was adopted. See announcement No 6.

2011

At the annual general meeting on 11 April 2012, the Board of Director's proposal for the distribution of profits, including payment of dividends of DKK 4 per share of DKK 1 was adopted.

This corresponds to approximately 35% of the net profit being distributed to the shareholders (excluding treasury shares). See announcement No 6

2010

At the annual general meeting on 11 April 2011, the Board of Director’s proposal for the distribution of profits, including payment of dividends of DKK 8 per share of DKK 1 was adopted. 

This corresponds to approximately 25% of the net profit being distributed to the shareholders (excluding treasury shares). See announcement No 14

2009

At the annual general meeting on 22 April 2010, the Board of Director’s proposal for the distribution of profits, including payment of dividends of DKK 7 per share of DKK 1 was adopted. This corresponds to approximately 25% of the net profit being distributed to the shareholders (excluding treasury shares). See announcement No 8

2008

At the annual general meeting on 23 April 2009, the Board of Director’s proposal for the distribution of profits, including payment of dividends of DKK 13 per share of DKK 1 was adopted. 

2007

According to Announcement No 7 to the OMX Nordix Exchange Copenhagen, NORDEN's Board of Directors propose an ordinary dividend of DKK 35 per share, corresponding to a 44% payout ratio for the year. The proposal was approved by the NORDEN shareholders.  

2006

At the annual general meeting on 25 April 2007 the Board of Directors proposed a dividend of DKK 100 per share for 2006. This amount corresponds to a 23% payout ratio for the year. The proposal was approved by NORDENs shareholders. The total dividend distribution amounted to DKK 230 million (USD: 41 million).

2005 

At the annual general meeting on 25 April 2006 the Board of Directors proposed a dividend of DKK 200 per share for 2005, corresponding to a 22% payout ratio for the year. NORDENs shareholders approved the proposal. The total dividend distribution amounted to DKK 461 million (USD: 78 million).

2004

As the Company’s earnings in 2004 made another quantum leap, the Board of Directors was authorised at an extraordinary general meeting on 30 September to declare an extraordinary dividend of DKK 175 per share for 2004. This authorisation was used in October when NORDEN distributed DKK 403 million in dividends, paid extraordinarily. The Company was thus among the first to take advantage of the new rules on extraordinary dividends.

At the annual general meeting on 25 April 2005, the Board of Directors' proposal for ordinary dividends of DKK 100 was approved, bringing the total dividend per share for 2004 to DKK 275 corresponding to total DKK 634 million (USD: 109 million). This is the largest dividend distribution in the history of NORDEN and means that 41% of the profit for the year is distributed as dividends, compared with a dividend distribution of 51% of the profit for the previous year.

2003

In light of the Company’s record high earnings in 2003, NORDEN shareholders decided at the annual general meeting in April 2004 to raise the dividend payment to DKK 100 per share from the DKK 10-12 paid in the previous years. 

Dividend payments 1996 to 2013 

Year

Date

DKK

Fiscal year

Denomination

Equivalent to the present denomination of DKK 1

1996

10 May

 14.93

1995

100

0.15

1997

5 May

 11.94

 1996

 100

 0.12

1998

4 May

 17.91

 1997

 100

 0.18

1999

13 May

 8.00

 1998

 100

 0.08

2000

11 May

 12.00

 1999

 100

 0.12

2001

8 May

 10.00

 2000

 20

 0.50

2002

3 May

 12.00

 2001

 20

 0.60

2003

2 May

 10.00

 2002

 20

 0.50

2004

30 Apr

 100.00

 2003

 20

 5.00

2004

7 Oct

 175.00

 2004

 20

 8.75

2005

29 Apr

 100.00

 2004

 20

 5.00

2006

1 May

 200.00

 2005

 20

 10.00

2007

1 May

 100.00

 2006

 20

 5.00

2008

29 Apr

35.00

2007

1

35.00

2009

30 Apr

13.00

2008

1

13.00

2010

29 Apr

7.00

2009

1

7.00

2011

18 Apr

8.00

2010

1

8.00

2012

17 Apr

4.00

2011

1

4.00

2013

1 May

3.00

2012

1

3.00

2014

29 Apr 5.00 2013 1 5.00