North Energy’s regular dividend policy is based on the annual profits generated by the operating activities of the Company. Subject to available liquidity and financial position, the Company intends to distribute an annual dividend in an amount equal to 40-60% of net profits.
The new dividend policy will be in effect from fiscal year 2020 with the first dividend expected to be paid out after the next annual general meeting to be held in 2021. The Company has a strong financial platform and a solid foundation for executing its strategy as an industrial investment company. Going forward, available financial funds are expected to be deployed to support this core strategy.
All proposals from the Board concerning dividends must be approved by shareholders at the General Meeting to ensure that the Company’s equity and dividend are consistent with its objectives, strategies and risk profile.