Facts about the share

* Excluding items affecting comparability. Market capitalisation plus net financial debt at year-end (EV) divided by EBITDA.

Dividend for 2019

The Group’s financial position is strong but, in view of the uncertainty created by COVID-19, the Board has decided to withdraw the previously proposed dividend. In the autumn 2020 the Board will assess whether a dividend should be paid and, if so, will convene an extraordinary general meeting.

Dividend policy

Dividend will be based on the Group's profitability situation, future investment plans and financial position.

Over the past decade the ordinary dividend has averaged 4 per cent of equity. This means that around 80 per cent of earnings per share have been paid by way of ordinary dividend. 

In addition to ordinary dividends, Holmen paid extra dividends for the financial years 1998, 2000 and 2003. 

There has been no change in the development of share capital since 2004.

Table showing development of share capital 1959-2019

Buy backs of own shares to adjust capital structure 

The Board of Directors of Holmen decided on 15th of August to exercise its authorization from the Annual General Meeting to repurchase own shares. Repurchases of class B shares may take place, in the period from 16 August 2019, inclusive, to the company’s next Annual General Meeting, on one or several occasions, such that its holding of own shares does not exceed 10 per cent of the total number of shares in the company. 

The purpose of the repurchase is to make the Group’s capital structure more efficient. The company’s financial position has gradually strengthened, with a debt/equity ratio that has fallen to 0.1, while the risk in the business has been reduced via the repositioning of paper and major reinvestments in paperboard. Even after a repurchase of shares, the Group’s financial position is considered to be strong and provides the scope to continue to develop the business. 

Mandate to buy back shares

The 2019 Annual General Meeting received the Board's mandate to acquire up to 10 per cent of the company's shares, by acquiring B-shares.

Implemented buy-backs

Holmen has since August 16 bought back 6 235 436 of the series ”B” shares. Holmen's total own holding of shares amounts to 7 586 639 of the series ”B”-shares, which corresponds to 4.3 per cent of the total number of shares in issue and to some 1.3 percent of the total number of votes. 

You will find updated information on Holmen's buy-backs on the Nasdaq website.