B2Holding ASA’s (“the Company”) objective is to create long-term sustainable value for its shareholders, through competitive returns in the form of dividend and/or share buy-back programmes (“Distributions”) and increases in the share price over time.
The Dividend Policy assumes that the Company at all times have a solid balance sheet and liquidity reserve that is sufficient to meet future liabilities and a balanced reserve for business opportunities.
The Company aims for aggregated Distributions to its shareholders per financial year of 50 % of adjusted net profit on a consolidated basis.
Distributions can only be initiated by the Board based on an authorisation from the Annual General Meeting, applicable to one or several occasions, and always in accordance with the latest annual accounts. This Dividend Policy forms the basis for the Board’s Distributions proposals or requests for authorisation to the Annual General Meeting.
The Company maintains one class of shares. Each share carries one vote, and all shares carry equal rights including the right to receive dividend and the right to participate and vote in the Company’s Annual General Meetings.
The Company shall maintain a clear and predictable Dividend Policy that shall be reviewed annually by the Board.
Distributions may be made on one or several occasions. The Board will consider legal restrictions, amongst others set out in the Norwegian Public Limited Liability Companies Act (“PLCA”), and consider capital expenditure plans, financing requirements and maintaining the appropriate strategic flexibility, as well as the economic outlook. Such considerations include market opportunities, liquidity and solidity risk, timing effect from portfolio recoveries, financial covenants, general business conditions and capital restrictions etc. at the time of the Distributions to be made.
Except in certain specific and limited circumstances set out in the PLCA, the amount of Distributions may not exceed the amount recommended by the Board.
Distributions in any given year are uncertain and dependent upon the financial position of the Company. It is therefore not guaranteed that when Distributions are proposed or made, the amounts or yield will correspond to the targets mentioned above.