Investors

Cash returns

At the AGM it was endorsed to pay out an ordinary dividend for 2019 of DKK 5.35 for each Novo Nordisk A and B share of DKK 0.20, which was paid in March 2020. This brings the total 2019 dividend for 2019 to DKK 8.35 for each A and B share of DKK 0.20. Novo Nordisk does not pay a dividend on its holding of treasury shares. Furthermore, in August the Board of Directors endorsed to pay-out DKK 3.25 for each A and B share of DKK 0.20 as interim dividend.

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 March 2020, the Board of Directors approved a final dividend of DKK 5.35 for 2019 per share. The total dividend for 2019 was DKK 8.35 per share, of which DKK 3.00 per share was paid as interim dividend in August 2019.

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

Share capital history

The Board of Directors has approved a share repurchase programme of up to DKK 17 billion to be executed during a 12 months period beginning 1 February 2020. The total programme may be reduced in size, in case of a significant bolt-on acquisition during 2020. Novo Nordisk expects to implement the majority of the new share repurchase programme according to the Safe Harbour Regulation.

B share capital

In March 2020, at the Annual General Meeting, the Board of Directors proposed a further reduction in the company’s B share capital, by cancelling 10,000,000 treasury shares. After the implementation of the share capital reduction, Novo Nordisk’s share capital will amount to DKK 470,000,000, divided into A share capital of DKK 107,487,200 and B share capital of DKK 362,512,800.

Table Share capital history

    Year       Stock split library       Ratio of B-shares to ADRs  
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

Dividend and dividend history

The Board of Directors has propsed to pay out an ordinary dividend for 2019 of DKK 5.35 for each Novo Nordisk A and B share of DKK 0.20, which will be paid in March 2020, subject to AGM approval. This will bring the total 2019 dividend for 2019 to DKK 8.35 for each A and B share of DKK 0.20. Novo Nordisk does not pay a dividend on its holding of treasury shares.

Investors

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Annual Report

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Annual Report 2019

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