Investor Presentaiton
Investor presentation
Full year 2018
Slide 18
Cash return to shareholders in 2019
Annual cash return to shareholders
DKK
billion
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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