Wallenius Wilhelmsen ASA’s objective is to provide shareholders with a competitive return over time through a combination of an increase in share value and dividend payments.
Wallenius Wilhelmsen ASA targets a dividend which over time shall constitute between 30-50% 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.
The Board has decided to propose an ordinary dividend of 6 cents per share to the Annual General Meeting in April 2019. The Board also proposes that the Annual General Meeting gives the Board authority to approve a second dividend payment of up to USD 6 cents per share for a period limited in time up to the Annual General Meeting in 2020, but no longer than to 30 June 2020. In total, the proposed dividend for 2018 is equivalent to USD 50 million.
The Wallenius Wilhelmsen ASA share price developed negatively during 2018 and decreased from NOK 59.00 per 31 December 2017 to NOK 29.70 per 31 December 2018 representing a reduction of 50%.
The Board is granted an authorisation, on behalf of the company, to acquire up to 10% of the company’s own issued shares. The authorisation is valid until the Annual General Meeting in 2019, but no longer than to 30 June 2019.