Dividend and dividend policy

Cloetta’s dividend policy states that the long-term intention is a dividend pay-out of 40-60 per cent of profit after tax.

The AGM held on 12 April 2016 approved the proposed shareholder dividend of SEK 0.50 per share, totalling SEK 144,309,650. As the record date for payment of dividends, the AGM approved Thursday, 14 April 2016. The dividends are expected to be disbursed by Euroclear Sweden AB on Tuesday, 19 April 2016.

Cloetta’s long-term target is a net debt/EBITDA of around 2.5x. For 2015 net debt/EBITDA was 3.03x. In light of the strong cash flow and improved EBITDA, the board proposes a dividend before the long-term target has been met. No transfer of value to the shareholders took place during 2015. The ambition is to continue using future cash flows for repayment of debt and share dividends, but also to create financial flexibility for complementary acquisitions.

The dividend is resolved on by the Annual General Meeting (AGM) and disbursement is handled by Euroclear Sweden AB. The right to dividends is granted to those persons who are listed as shareholders in the share register maintained by Euroclear Sweden AB on the record date established by the AGM.

Neither the Swedish Companies Act nor Cloetta’s Articles of Association contain any restrictions regarding the right to dividends for shareholders outside Sweden. Aside from any limitations related to banking or clearing activities in the affected jurisdictions, payments to foreign shareholders will be carried out in the same manner as to shareholders in Sweden.

Cloetta has no share buy back program.

 

Dividend (1) 2008/2009 (2) 2009/2010 (2) 2010/2011 (2) 2012 2013 2014 2015
Dividend per share, SEK 0.00 0.75 0.00 0.00 0.00 0.00 0.50
Dividend payout in total, SEKm 0.0 18.1 0.0 0.0 0.0 0.0 144.3
Payout ratio, % 0.0 83.0 0.0 0.0 0.0 0.0 37.0
               
(1) From 2012 and onwards, Cloetta´s financial year is calendar year, earlier the financial year was 1 September - 31 August. The Cloetta share has been listed on OMX since 16 February 2009.
(2) Relates to old Cloetta before the merger with Leaf

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