The Board of Directors of the company has adopted a dividend policy pursuant to which the company aims to distribute a stable and over time increasing dividend with a payout of at least 50 percent of net profit, in total, on a biannual basis.
The Board of Directors of the company estimates annually the balance between dividends to be distributed and funds to be used for Orthex’s growth and based on this assessment, makes a proposal on the amount of dividends to be distributed, which may for any single year differ significantly from the target level set in the dividend policy.
As proposed by the Board of Directors, the Annual General Meeting held on 18 April 2023 decided that for the financial year ended on 31 December 2022 shareholders be paid a dividend of EUR 0.11 per share totalling approximately EUR 2.0 million in two instalments as follows:
|Year||Distribution of funds||EUR||Dividend ex-date||Record date||Payment date|
|2022||Dividend||0.06||19 April 2023||20 April 2023||27 April 2023|
|2022||Dividend||0.05||29 September 2023||2 October 2023||10 October 2023|
|2021||Capital return||0.09||7 April 2022||8 April 2022||21 April 2022|
|2021||Capital return||0.09||30 September 2022||3 October 2022||11 October 2022|
The general meeting authorised the Board of Directors to resolve, if necessary, on a new record date and date of payment for the second instalment of the dividend, should the rules of Euroclear Finland Oy or statutes governing the Finnish book-entry system change or otherwise so require.