Capital Structure and distribution policy

Capital distribution to shareholders is based on a target leverage of an NIBD/EBITDA-multiple between 2.0 and 3.0.

Dividend is paid semi-annually to facilitate a faster return of capital to shareholders and to align payments with DFDS’ seasonal cash flow that peaks during the third quarter, the high season for passenger travel.

After distribution of dividend, excess capital is determined based on the leverage target, including future investment requirements, and distributed through share buybacks.

To maintain financial flexibility after the acquisition of U. N. Ro-Ro was announced in April 2018, both the ongoing share buyback program and the second dividend planned for distribution in August were suspended. For 2019, the Board of Directors have proposed to resume dividend with DKK 4.00 per share.

Distribution to shareholders

DKK 409m was distributed to shareholders in 2018 of which DKK 219m was dividend paid in March and DKK 190m was distributed through share buybacks.

The last five years of shareholder distribution

2017 2018 2019 2020 2021
Dividend paid per share, DKK 10.0 4.0 4.0 0 0
Dividend paid ex. treasury shares, DKKm 555 219 229 0 0
Share buyback, DKKm 1,106 190 0 0 0
Total distribution to shareholders, DKKm 1,661 409 229 0 0
FCFE yield, % 6.1 -15.2 -0,8 2,8 0
Total distribution yield, % 9.2 2.7 1,2 0 0
Cash payout ratio, % 150.7 -17.9 -151,7 0 0

Shareholder return

2017 2018 2019 2020 2021
Share price change, % 2.7 -20.9 24.0 -15.3 26.8
Dividend return, % 3.1 1.2 1.5 0.0 0.0
Total shareholder return, % 5.8 -19.6 25.5 -15.3 26.8

Shareholder valuation

2017 2018 2019 2020 2021
Equity/share, DKK 102.8 159.3 179.7 183.4 199.4
Price/book value, times 2.74 1.6 1.8 1.5 1.8
DFDS Søren Brøndholt 2019 252 low

Your investor contact

Søren Brøndholt Nielsen

VP, Corporate Communications & IR

+45 2944 2858

udsbn@dfds.com

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DFDS CEO Torben Carlsen 02 2022 30 V2 FIN

Management

DFDS has a two-tier management structure with an independent Board of Directors.

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The DFDS Share

DFDS’ shares are listed on Nasdaq Copenhagen. Learn more about the performance of the DFDS share, its ownership structure and historical stock quote price.

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Reports

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