Elopak is committed to provide its shareholders with competitive returns compared to similar companies in the form of dividends and increase in the share price over time.
The Board of Directors aims to distribute an annual ordinary dividend per share corresponding to 50-60% of the Group’s normalized net profit. In addition to legal requirements set out in the Norwegian Public Limited Companies Act (see Section 5.2 “Legal constraints on the distribution of dividends”), the Board of Directors shall when determining the dividend per share to be proposed to the General Meeting always consider the Group’s financial strength and financial flexibility to ensure investment-grade balance sheet, as well as other relevant factors. Except in certain specific and limited circumstances set out in the Norwegian Public Limited Companies Act, the dividend per share may not exceed the dividend recommended by the Board of Directors. The ordinary dividend will be declared in EUR and paid in NOK on a semi-annual basis.
Elopak’s dividend policy is based on the company’s ambition to maintain its investment grade rating. There can be no assurance that dividends will be proposed or declared in any given year, any such decision will be at the full discretion of the Board.