Dividend pay for Novo Nordisk investors

The Board of Directors has decided to pay out an interim dividend for 2025 of DKK 3.75 for each Novo Nordisk A and B share of DKK 0.10, an increase of around 7% compared to DKK 3.50 in August 2024. The interim dividend for 2025 will be paid in August 2025.

The ex-dividend date for the interim dividend will be 15 August 2025 for A and B shares, while the ex-dividend date will be 18 August for the ADRs. The record date will be 18 August 2025 for the A and B shares as well as the ADRs. The payment date for the A and B shares will be 19 August 2025, while the payment date for the ADRs will be 26 August 2025.

No dividend will be paid on the company’s own holding of B shares.

Graph showing the relation between share buyback, interim dividend and ordinary dividend between 2020-2025

Novo Nordisk’s share capital amounts to DKK 446,500,000 divided into A share capital of DKK 107,487,200 and B share capital of DKK 339,012,800.

Table Share capital history

Year	Stock split library	Ratio of B-shares to ADRs
2023	September 13, B shares 1:2, September 20, ADRs 1:2	1:1
2014	January 2, B shares 1:5. January 9, ADRs 1:5	1:1
2007	December 3, 2007, B-shares 1:2, ADRs 1:2	1:1
2001	April 4, 2001, B-shares 1:5, ADRs 1:2.5	1:1
2000		1:2
1999		1:2
1998		1:2
1997	January 2, 1997 B-shares 1:2	1:2

Novo Nordisk’s B shares have been listed on Nasdaq Copenhagen in trading units of DKK 0.20 and its American Depositary Receipts (ADRs) that equals B-shares of DKK 0.20 have been listed on New York Stock Exchange (NYSE).

In order to secure liquidity for both the Novo Nordisk B shares and ADRs and bring price levels in line with market practice for especially the ADRs, the Board of Directors has decided to split the trading units in a two-for-one ratio.

The trading unit of the Novo Nordisk B shares listed on NASDAQ Copenhagen has been changed from DKK 0.20 to DKK 0.10 as of 13 September 2023. The ADRs listed on the NYSE were similarly split as of 20 September 2023 to ensure the 1:1 relationship between the B-share and the ADR.

Novo Nordisk’s total share capital of DKK 451,000,000 has been divided into an A share capital of nominally DKK 107,487,200 and a B share capital of nominally DKK 343,512,800.

After the split, the total number of A shares of nom. DKK 0.10 was 1,074,872,000 shares. Each A-share of nom. DKK 0,10 carries 100 votes. Consequently, the total number of votes relating to the A shares was 107,487,200,000 votes.

After the split, the total number of B shares of nom. DKK 0.10 was 3,435,128,000 shares. Each B-share of nom. DKK 0,10 carries 10 votes. Consequently, the total number of votes relating to the B shares was 34,351,280,000 votes.

The above description has been updated as of 20 September 2023 and later changes to the share capital may have been implemented.