FLSmidth dividend history

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FLSmidth takes a conservative approach to capital structure with an emphasis on relatively low debt, gearing and financial risk. The Board of Directors’ priority for capital structure is as follows:

Leverage (NIBD/EBITDA < 2)
Dividend pay-out ratio (30-50% of net profit)

In addition, the Board of Directors’ priority for capital allocation is to invest in organic growth and value adding M&A, and under special circumstances share buyback or special dividend.

Share and dividend key figures
Year	2018	2019	2020	2021	2022
CFPS (cash flow per share), DKK (diluted)	7.7	18.9	28.3	27.8	17.0
EPS (earnings per share), DKK (diluted)	12.8	15.5	4.2	6.9	6.5
BVPS (book value per share), DKK	167	171	159	180	188
DPS (dividend per share), DKK	9	0	2	3	3*
Pay-out ratio (%)	72	-	50	48	49*
Dividend yield (dividend as percent of share price end of year)	3.1	0.0	0.9	1.2	1.2*
FLSmidth & Co. A/S share price, end of year, DKK	293.1	265.4	232.8	244.3	251.7
Listed number of shares (1,000), end of year, DKK	51,250	51,250	51,250	57,650	57,650
Number of shares excl. own shares (1,000), end of year	49,866	50,056	50,152	56,725	56,736
Average number of shares (1,000) (diluted)	50,051	50,092	50,153	52,080	56,879
Market capitalisation, DKKm	15,021	13,602	11,931	14,084	14,511

Dividend history
Year	Dividend per share, DKK	Number of shares (end of year) '000s	Dividend total, DKKm
1990	2.4	38,200	92
1991	2.4	38,200	92
1992	1.6	38,905	62
1993	1.6	38,905	62
1994	2.4	46,098	111
1995	2.4	46,098	111
1996	3.2	46,098	148
1997	4	46,098	184
1998	5	46,487	234
1999	7.5	46,487	349
2000	3	46,487	139
2001	0	53,200	-
2002	0	53,200	-
2003	0	53,200	-
2004	7	53,200	372
2005	7	53,200	372
2006	7	53,200	372
2007	7	53,200	372
2008	0	53,200	-
2009	7	53,200	372
2010	9	53,200	479
2011	9	53,200	479
2012	9	53,200	479
2013	2	53,200	106
2014	9	51,250	461
2015	4	51,250	205
2016	6	51,250	308
2017	8	51,250	410
2018	9	51,250	461
2019	0	51,250	0
2020	2	51,250	103
2021	3	57,650	173
2022	3*	57,650	173