Wallenius Wilhelmsen: Proposal of new pay-as-you-go dividend policy

On 13 February 2024, the Board of Directors of Wallenius Wilhelmsen ASA resolved to propose a new dividend policy to the company's Annual General Meeting on 30 April 2024 "The Board of Directors propose a new revised dividend policy starting in 2024, under which the Board is provided the authority to declare and pay semi-annual pay-as-you-go dividends. The first potential payment under the proposed policy will be for H1 2024 and be payable together with the proposed second tranche of the 2023 dividend in October 2024. The new dividend policy will also give the Board the authority to consider extraordinary dividends and/or share buybacks to enhance shareholder returns," said Torbjørn Wist, CFO. Wist says "We are committed to remunerating our shareholders competitively, and the payout ratio range in the policy remains unchanged. However, under the new policy there will be less of a lag between reported earnings and shareholder remuneration". The wording of the proposed dividend policy from 2024 and onwards is as follows: "Wallenius Wilhelmsen's objective is to provide shareholders with a competitive return over time through a combination of rising value for the Wallenius Wilhelmsen share and payment of regular dividend payments to the shareholders. The Board targets a dividend which over time shall constitute 30-50% of the company's profit after tax on an annual basis. The dividend will be declared and paid on a semi-annual basis. The size of the dividend will be derived and paid based on the reported net profit for the first and second half of each fiscal year, respectively. Dividends will be declared in USD and paid in NOK. When determining the size of the dividend, the Board will consider its financial targets, near-term market outlook, the group's financial position, future capital requirements, as well as other relevant factors such as extraordinary effects. Furthermore, the Board may from time to time, taking into consideration the financial position of the company, consider extraordinary dividends and/or share buybacks to enhance shareholder returns. Any declaration and payment of dividends will be at the full discretion of the Board". For further information, please contact: Anders Redigh Karlsen, Vice President Investor Relations & Market Insight Tel: +47 994 20 293 Email: anders.karlsen@walwil.com Pictures, please see the website: https://www.walleniuswilhelmsen.com/who-we-are/media About Wallenius Wilhelmsen: The Wallenius Wilhelmsen group is a market leader in roll-on/roll-off (RoRo) shipping and vehicle logistics, managing the distribution of cars, trucks, rolling equipment and breakbulk to customers all over the world. The company operates around 125 vessels servicing 15 trade routes to six continents, a global inland distribution network, 66 processing centers and eight marine terminals. Headquartered in Oslo, Norway, the Wallenius Wilhelmsen group has 9,500 employees in 28 countries worldwide. Read more at www.walleniuswilhelmsen.com

Source: NewsWeb