Investor Presentaiton
Investor presentation
Full year 2018
Slide 112
Cash return to shareholders in 2019
DKK
billion
Annual cash return to shareholders
-
Share repurchase
Free cash flow
Interim dividend
Dividend
Free cash flow guidance
40
35
30
25
15
17
15
15
17
20
8
15
7
7
7
10
16
13
5
11
12
12
0
2015
2016
2017
2018
2019E*
Note: For 2019 expected free cash flow is DKK 29-34 billion. Share repurchase programmes run for 12
months starting Feb until end Jan of the following year.
changing
diabetes®
Cash return priorities
. New share repurchase programme of up to DKK 15 billion
to be executed during the coming 12 months
•
Total programme may be reduced in size if significant bolt-
on acquisition opportunities arise during 2019
For 2018, the proposed total dividend increased 4% to DKK
8.15 per share of DKK 0.20 (including interim dividend of
DKK 3.00 per share paid in August 2018), resulting in a
total pay-out ratio of 50.6%.
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