Equity and Dividends
The company’s equity is aligned with the aims, strategy and risk profile communicated to the market.
If the capital exceeds the need for realisation of the company’s strategic goals, the company will pay a dividend. The company is currently in a growth phase where it is desirable to reinvest earnings from operations to ensure further growth, since this is regarded as the most appropriate for the creation of value for the shareholders.
An increase in the company’s equity will only be proposed if the Board believes that it will be in the long-term interests of the shareholders. The Board of Directors is only given authorisation to increase the company’s share capital under specified purposes. Authorisations to increase the share capital are only valid until the next annual general meeting. The same guidelines apply for authorisations for the Board of Directors to purchase treasury shares.
In the general meeting, held April 26, 2012 the Board was given a general authorisation to increase the share capital by up to 4 800 000 shares, but there have been no issues under this authorisation in 2012.
Further information regarding the authorisation to increase the share capital is disclosed in Note 9 to the financial statements. The authorisation can be used to issue shares in connection with acquisitions of new companies as part of the company’s strategy and regular cash issues.