Dividends and Share Buyback Program
TOMRA’s objective is to create long-term sustainable value for its shareholders, through competitive return in form of dividends and share price development over time.
The dividend policy assumes that TOMRA at all times has a solid capital structure and liquidity reserve that is sufficient to meet future liabilities with a balanced reserve for business opportunities.
Cash Dividend
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:
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Proposal date | 28.02.23 | 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 |
| Approval date | 27.04.23 | 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 |
| Exclusion date | 28.04.23 | 29.04.22 | 05.05.21 | 26.10.20 | 07.05.19 | 25.04.18 | 28.04.17 | 26.04.16 | 24.05.15 | 02.05.14 |
| Payout date | 09.05.23 | 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 |
| Dividend per share (NOK) | 1.80 | 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 |
Share buyback program
The TOMRA share buyback program is focused solely on facilitating the annual employee share purchase program within the company.
Below is an overview of the treasury share transactions completed by TOMRA as part of its share buyback program 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) |