Annual report

Dividend for 2019

Wallenius Wilhelmsen ASA’s objective is to provide shareholders with a competitive return over time through both an increase in share value and dividend payments. The Dividend policy states:

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.

Given the unpredictable situation for the global economy as the impact of COVID-19 continue to evolve, the Wallenius Wilhelmsen Board of Directors has decided to withdraw their proposed dividend for 2019. In connection with the publication of fourth quarter and annual results on 22 February this year, the board proposed an ordinary dividend of 7 cents per share to the Annual General Meeting in April 2020. The board also proposed that the Annual General Meeting give the board authority to approve a second dividend payment of up to USD 7 cents per share for a period limited in time up to the annual general meeting in 2021, but no longer than to 30 June 2021. The board has now decided to withdraw this proposal, which in total would have been equivalent to about USD 60 million.

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 AGM in 2020, but no longer than to 30 June 2020.