The Supervisory Board has at its meetings on 22th of March 2018 passed resolutions on:
Dividend on ECs (NOK 4,40 per ECC) | NOK 572m |
Transferred to equalisation fund | NOK 580m |
Transferred to ownerless capital | NOK 327m |
Allocated to non-profit causes | NOK 322m |
The Supervisory Board set a cash dividend of NOK 4.40 per equity certificate (EC), altogether totalling NOK 572 m. This gives the EC holders a payout ratio of 50% of the group profit per EC. Further allocates NOK 322m to non-profit causes, also representing a payout ratio of 50%. Of this amount NOK 252m is transferred to the foundation Stiftelsen SpareBank 1 SMN and NOK 70m as gifts to non-profit causes. NOK 580m and NOK 327m are transferred to the dividend equalisation fund and the ownerless capital respectively.
Authorisation to issue subordinated debt
The Supervisory Board authorises the Board of Directors to raise subordinated loans, collectively or separately, in Norwegian currency or the equivalent in foreign currency, distributed as follows:
Authorisation to acquire and establish a security interest in the Bank's own equity certificates
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: SpareBank 1 SMN via Globenewswire