Corporate governance

Equity and dividend

WWL group has a sound level of equity tailored to its objectives, strategy and risk profile. As of 31 December 2017, the total equity amounted to USD 2 796 million, corresponding to 35.8% of the total capital. In 2016, the total equity amounted to USD 1 435 million equal to 48% of the total capital.

Dividend policy
Wallenius Wilhelmsen Logistics ASA’s (WWL ASA) objective is to provide shareholders with a competitive return over time through a combination of rising value for the WWL ASA share and payment of dividend to the shareholders. The Board targets a dividend which over time shall constitute between 30 and 50% of the company’s profit after tax. When deciding the size of the dividend, the Board will consider future capital requirements to ensure the implementation of its growth strategy as well as the need to ensure that the Group’s financial standing remains warrantable at all times. Dividends will be declared in USD and paid out semi-annually.

Dividend 2016
There were no dividend payout for the financial year 2016.

Dividend 2017
The board has decided not to recommend a dividend for 2017 at this time as they would like to see a further strengthening of the solidity of the group.

Own shares
The company does not hold own shares.

As of 31 December 2017, there was no mandate to the board of directors regarding purchase of own shares.

Authorisations to the Board of Directors
In the AGM in 2017, the Board of Directors was granted an authorisation to increase the share capital by NOK 22,001,456 representing 10% of the issued share capital. The authorisation is valid until the AGM in 2018, but not longer than 30 June 2018.

Deviations from the code: None