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 4 April 2017 approved the proposed shareholder dividend of SEK 0.75 per share, totaling SEK 216,464,474. The record date for payment of dividends was 6 April 2017. The dividends were disbursed by Euroclear Sweden AB on 11 April 2017.
Cloetta’s long-term target is a net debt/EBITDA ratio of around 2,5x which was fulfilled in 2016. The ambition is to continue using future cash flows for payment of share dividends and to provide financial flexibility for complementary acquisitions. The long-term target to distribute 40-60 per cent of profit after tax continues to apply.
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.