Dividends and Buy-Back Program

TOMRA's overall ambition for creating shareholder value is to ensure a high return on investment for its shareholders over time through a combination of capital gains, dividends and share buy-back programs.

This should, however, be seen in conjunction with TOMRA’s capital structure policy. In order to provide a platform for the company’s high growth expectations, TOMRA has decided to maintain a high equity ratio. Surplus cash will be paid out to TOMRA shareholders through a combination of dividend and share buy-back programs.

Dividends

Our ambition is to distribute 40-60% of earnings per share. When deciding the annual dividend level, the Board of Directors will take into consideration expected cash flow, capital expenditure plans, acquisitions, financing requirements and appropriate financial flexibility.

The dividend pertaining to a fiscal year will be declared at the annual general meeting in the following year. Please see the table below for further details:

2021 2020 2019 2018 2017 2016 2015 2014 2013 2012
Proposal date 25.02.22 23.02.21 20.02.20 21.02.19 21.02.18 23.02.17 18.02.16 25.03.15 31.03.14 22.03.13
Approval date 28.04.22 04.05.21 21.10.20 06.05.19 24.04.18 27.04.17 25.04.16 23.04.15 29.04.14 22.04.13
Exclusion date 29.04.22 05.05.21 26.10.20 07.05.19 25.04.18 28.04.17 26.04.16 24.04.15 02.05.14 23.04.13
Payout date 09.05.22 14.05.21 05.11.20 20.05.19 08.05.18 11.05.17 09.05.16 05.05.15 13.05.14 03.05.13
Dividend per share (NOK) 6.00 (3.30 ord. + 2.70 ex. ord.) 3.00 2.75 4.50 (2.50 ord. + 2.00 ex. ord.) 2.35 2.10 1.75 1.45 1.35 1.25

Share buy-back programs

In periods where the company has a significant net cash position in excess of what is required to finance future growth and fulfill the company’s objectives related to dividend payments, TOMRA may buy back shares as a part of its total distribution of capital to shareholders. Share buy-backs are often more flexible than dividends, and provide tax advantages compared to dividends for private shareholders.

Below is an overview of the treasury share transactions completed by TOMRA as part of its share buy-back programs since 2005:

year shares purchased avg. share price payment nok shares sold avg. share price payment nok shares cancelled
2005 4,498,000 46.92 211,043,393 -- -- -- -- -- -- -- -- -- -- -- --
2006 9,765,000 43.18 421,605,318 (196,758) 39.51 (7,774,504) (13,796,342)
2007 9,233,000 44.21 408,175,793 (223,085) 46.11 (10,287,182) -- -- --
2008 5,700,042 35.44 201,999,610 (313,472) 36.73 (11,513,876) (9,670,139)
2009 1,995,450 24.86 49,613,014 (110,717) 24.02 (2,659,186) (5,000,000)
2010 239,000 28.12 6,721,728 (87,096) 28.00 (2,438,688) (2,000,000)
2011 251,634 40.14 10,100,823 (151,208) 40.97 (6,194,908) -- -- --
2012 262,328 46.06 12,082,598 (146,480) 45.90 (6,723,432) -- -- --
2013 200,000 54.10 10,819,751 (181,368) 56.25 (10,201,950) -- -- --
2014 100,000 50.16 5,016,000 (123,104) 56.50 (6,955,376) -- -- --
2015 250,000 91.16 22,791,189 (103,603) 68.59 (7,106,150) -- -- --
2016 350,000 89.16 31,204,254 (242,136) 84.23 (20,394,413) -- -- --
2017 200,000 122.76 24,552,774 (242,606) 98.67 (23,937,958) -- -- --
2018 -- -- -- -- -- -- -- -- -- (171,712) 187.04 (32,116,900) -- -- --
2019 370,667 245.67 91,061,819 (155,295) 265.60 (41,246,352) -- -- --
2020 -- -- -- -- -- -- -- -- -- (99,822) 368.30 (36,764,443) -- -- --
2021 -- -- -- -- -- -- -- -- -- (110,294) 410.06 (45,227,326) -- -- --
2022 -- -- -- -- -- -- -- -- -- (155,600) 342.00 (53,215,200) -- -- --
Net Total 33,415,121 45.09 1,506,788,064 (2,814,356) 115.38 (324,683,630) (30,466,481)
Net after split May 2022 66,830,242 22.55 1,506,788,064 (5.628,712) 57.70 (324,683,630) (60,932,962)
2022 after split 531,432 240.73 127,933,053 -- -- -- -- -- -- -- -- -- -- -- --
New Net Total 67,361,674 24.27 1,634,721,117 (5,628,712) 57.70 (324,757,844) (60,932,962)