Kindred’s dividend policy is to generate a stable ordinary dividend in absolute GBP-denominated terms, paid in two equal tranches in the second and fourth quarter. In addition, Kindred will over time complement dividends with share buybacks.
The total pay-out of dividends and buybacks will be based on an assessment considering Kindred’s financial position, capital structure and future investments needs, including acquisition opportunities. The total pay-out ratio of dividends and buybacks should over time equal about 75 per cent of free cash flow. Free cash flow is defined as cash flow from operations excluding movements in customer balances, less cash flow from investment activities (including acquisitions) and payments for lease liabilities.
Kindred informs about the dividend instalment on 18 November 2021
A dividend of GBP 0.33 (equivalent to SEK 3.89 using exchange rates from 8 May 2021 and payable in SEK) per ordinary share/SDR was approved at the AGM on 12 May 2021. In order to facilitate more efficient cash management, it was decided that the dividend was to be paid in two equal instalments. The first instalment of GBP 37.5 million was paid on 20 May 2021, and the second instalment will be paid on 18 November 2021.
The following dates apply to the second instalment:
- Ex-dividend date is 12 November 2021
- Record date is 15 November 2021
- Distribution by Euroclear Sweden AB on 18 November 2021
For accounting purposes, the rate of exchange to be used shall be the SEK-GBP rate prevalent on 15 November 2021.
Dividend per share, SEK
* Due to the uncertainty caused by COVID-19, and in accordance with the Board’s recommendation, the AGM of 2020 decided that no dividend for 2019 was to be paid out.