OmaSp’s dividend policy and dividend

In connection with the Listing, the Board of Directors has adopted a dividend policy pursuant to which the bank targets a steady and growing dividend with an annual dividend payout of at least 20 per cent of the previous years’ profit for the accounting period. The Board of Directors of the Company evaluates the balance between the dividends or the capital to be distributed and the amount of own funds required by the company's solvency requirements and targets and, on the basis of this evaluation, makes a proposal on the amount of dividend or capital to be distributed.

Under the provisions of the Finnish Companies Act, dividends may be paid and non-restricted equity may otherwise be distributed only after the general meeting of shareholders has approved the company’s financial statements. The general meeting of shareholders decides on the distribution of dividends based on a proposal by the Board of Directors. The general meeting of shareholders may also authorize the Board of Directors to decide on the payment of dividends or other distribution of unrestricted equity. The amount of dividends or other distribution of unrestricted equity cannot exceed the amount resolved by the general meeting of shareholders. A resolution on the distribution of dividend or other unrestricted equity, or on granting of authorisation to the Board of Directors concerning such distribution, requires a majority decision at the general meeting of shareholders.

The dividends paid by OmaSp for the financial years ended 31 December 2017, 31 December 2016 and 31 December 2015 are presented in the table below adjusted by the number of shares at the date of 19th of November 2018.

 

Dividends paid for the financial year ended 31.12.2017

Dividends paid for the financial year ended 31.12.2017

Dividends paid for the financial year ended 31.12.2017

EUR   
Dividend/share (1)0.080.060.06
Dividends for the financial year in total2,112,342.241,575,981.601,478,400.00

(1) The dividen per share has been adjusted to take account of the effect of the resolution of the Extraordinary General Meeting held on 9 November 2018. In order to increase the number of shares through a share issue without payment in proportion to shareholdings (share split), the shareholders received 49 new shares per share held by each shareholder. Adjusted information is unaudited and adjusted dividend per share is calculated by the number of the OmaSp's outstanding shares as at the date of 19th November 2018 25 085 000 shares. OmaSp owns 11,700 of the company’s own shares.