In deciding whether to propose a dividend and in proposing the dividend amount, the Board of Directors will take into account applicable legal restrictions, as set out in the Norwegian Public Limited Companies Act and the Bank’s capital adequacy requirements.
The Board of Directors has adopted a dividend policy according to which the Bank targets that approximately 50 % of the Group’s annual profit after tax is distributed as cash dividends. The dividend target is based on current regulatory capital requirements, and any future changes regarding regulatory capital requirements could affect the Bank’s dividend target. Excess capital can be distributed through a combination of cash dividends and repurchase of shares.
There can be no assurance that a dividend will be proposed or declared in any given year. If a dividend is proposed or declared, there can be no assurance that the dividend amount or yield will be as contemplated above.