Full Year 2023 Investor Presentation
15
Investor presentation
Full year 2023
Attractive capital allocation to shareholders
DKK billion
70
Annual cash return to shareholders
76
60
50
50
13
10
40
40
8
18
29
16
30
16
14
20
20
10
30
20
24
20
20
20
0
2021
2022
2023
Dividend
Interim Dividend
2024E
Share Repurchase
Novo NordiskⓇ
Capital allocation
• Return of free cash flow through both share buybacks and dividends
• For 2023, the total dividend per share increased 51.6% to DKK 9.40
(including interim dividend of DKK 3.00 per share paid in August 2023)
• Final dividend for 2023 will be paid in March 2024
• The total capital allocation for 2023, through a combination of share
buybacks and dividends, amounts to DKK 61.7 billion
• For 2024, we expect to initiate a new 12-month share repurchase
programme of up to DKK 20 billion
Note: Share repurchase programmes run for 12 months starting in January. The total programme may be reduced in size if significant business development opportunities arise during 2024. The 2024E interim dividend included for illustrative purposes.View entire presentation