Cash returned to shareholders

Novo Nordisk’s guiding principle is that any excess capital, after the funding of organic growth opportunities and potential acquisitions, should be returned to investors. The company applies a pharmaceutical industry payout ratio to dividend payments, which are complemented by share repurchase programmes.

In August 2019 the Board of Directors approved to pay an interim dividend of 3.00 DKK per 0.2 DKK share 

At the Annual General Meeting on 21 March 2019, the Board of Directors approved a final dividend of DKK 5.15 for 2018 per share. The total dividend for 2018 was DKK 8.15 per share, of which DKK 3.00 per share was paid as interim dividend in August 2018.

Novo Nordisk does not pay a dividend on its holding of treasury shares