Copenhagen, 2015-08-20 07:58 CEST (GLOBE NEWSWIRE) -- Announcement no. 63
• The Board of Directors proposes semi-annual dividend payments going forward
• Distribution of an interim dividend of DKK 9 already in September 2015
• Total distribution to shareholders expected to exceed DKK 700m in 2015
DFDS’ Board of Directors (BoD) proposes to introduce semi-annual dividend payments and to pay an interim dividend of DKK 9 per share of DKK 100 already in September as an extra distribution this year.
Semi-annual dividend payments are intended to facilitate a faster return of capital to shareholders and better align dividend payments with DFDS’ seasonal cash flow cycle that peaks during the third quarter, which is the high season for passenger travel.
In addition, semi-annual dividend payments will enhance the flexibility in adapting the distribution to DFDS’ capital structure and distribution policy.
The semi-annual dividend payment schedule is proposed to be initiated with an inter-im dividend of DKK 9 per share of DKK 100 already in September this year. Thus, in 2015, a total dividend of DKK 27 per share will be paid according to the pro-osal, including the extra DKK 9 per share of DKK 100. This compares to the ordinary annual dividend of DKK 18 per share distributed in March 2015.
Consequently, the total distribution from DFDS to its shareholders this year is expected to exceed DKK 700m, including ordinary dividends of DKK 218m in March, an extra dividend of DKK 107m in September, buyback of shares for DKK 101m from Jan-uary to April and additional buyback of up to DKK 300m from April to December (at the latest) under the current programme.
The full proposal of the BoD is available from the Notice of Extraordinary General Meeting announced today.
The BoD will propose to the next Annual General Meeting in 2016 that an authorisation of the BoD to pay out extraordinary dividends, including interim dividends, be adopted in the articles of association.
Preliminary timetable of the proposed distribution of interim dividend (assuming approval of the proposal)
| Notice of Extraordinary General Meeting | 20 Aug |
| Extraordinary General Meeting | 17 Sep |
| Last day of trading including right to interim dividend | 17 Sep |
| First day of trading excluding right to interim dividend | 18 Sep |
| Record day of interim dividend | 21 Sep |
| Payment of interim dividend | 22 Sep |
Contact
Niels Smedegaard, CEO
+45 33 42 34 00
Torben Carlsen, CFO
+45 33 42 32 01
Søren Brøndholt Nielsen, IR
+45 33 42 33 59
