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Dividends

Tryg wants to be seen as an attractive investment case. Therefore, Tryg’s dividend policy states the ambition to grow the annual nominal dividend paid out to shareholders while maintaining a solid solvency position based on Tryg’s partial internal capital model.

Tryg aims to offer a nominally stable and increasing ordinary dividend on an annual basis. The targeted pay-out ratio of 60-90% is secondary to the aim of increasing the annual dividend. Dividends are paid quarterly. Additional capital repatriation at year-end is also paid up as extraordinary dividends.

Since the introduction of the new dividend policy in 2012, the dividend per share moved from 5.2 in 2012 to 6.4 in 2017. Additionally, Tryg has paid out DKK5.8bn in extraordinary capital repatriation (extraordinary buy backs until year-end 2016 and extraordinary dividends in 2016 and 2017).

Tryg is the only European Insurer that pays dividend quarterly. The aim is to increase the dividend on an annual basis while the quarterly dividend is maintained at the same level throughout the quarters.

Shareholder remuneration since 2012

Shareholder remuneration Tryg

DKKm 2017 2016 2015 2014 2013
Dividend 1,827 1,770 1,759 1,731 1,656
Dividend per share (DKK)* 6.4 6.2 6.0 5.8 5.4
Payout ratio 73% 72% 89% 68% 70%
Extraordinary share buy back 0 0 1,000 1,000 1,000
Extraordinary dividend** 1,000 1,000      

 

* Dividend per share includes dividend for H1 of DKK 2.60 paid out in July 2016 and dividend of DKK 3.60 proposed by the Supervisory Board for adoption by the annual general meeting. 

** Proposed by the Supervisory Board for adoption by the annual general meeting.