In addition, based on a total evaluation of the group’s financial position, the Board will propose an extraordinary dividend of 10.00 kroner per share, equivalent to NOK 1,800 million. In addition, a share buyback programme of up to NOK 500 million will be proposed.
The proposals are subject to approval by the ordinary general meeting of KONGSBERG on 14 May 2020. The extraordinary dividend is subject to successful closing of the sale of Hydriod, Inc. Details of this transaction were given on 4 February 2020.
The share buyback programme will start after the approval from the ordinary general meeting. KONGSBERG will then seek approval for cancellation of repurchased shares under this programme.
Combined these remunerations will return up to NOK 2.75 billion to shareholders, equivalent to 10.1 per cent of the market cap as of 11. February 2020 (closing share price NOK 150.60).----
[In dividend date announcement take into consideration the potential non-closure of the Hydroid transaction. See Norwegian text]