SAMPO PLC INSIDE INFORMATION 24 October 2019 at 1:15 pm
Change in Sampos view on expected dividends
Sampo has for several years had the ambition of annually increasing its nominal dividend per share. However, in the present operating environment, with government bond yields expected to remain negative for some time to come, Sampo management no longer thinks the companys and its shareholders interests are best served by an increase in the dividend.
Nordea announced today a change in its dividend policy, which further reinforces Sampo managements view that it is prudent to reset the dividend expectations now.
Management expects to propose to the Board a dividend of EUR 2.10 - 2.30 a share for 2019, not including the extra dividend paid in the form of Nordea shares in August 2019. Managements target going forward is to maintain a sustainable and attractive dividend. Sampos current dividend policy is to pay out at least 50 per cent of the net profit as dividends. Over the last five years Sampos pay-out ratio has on average been approximately 80 per cent. The Board will review the dividend policy in early February 2020.
The change in expected dividend has no implications for Sampo Groups outlook for 2019. The insurance businesses outstanding performance continues.
SAMPO PLC
Kari Stadigh
President and Group CEO
For further information please contact
Jarmo Salonen
Head of Investor Relations and Group Communications
tel. +358 10 516 0030
Maria Silander
Communications Manager, Media Relations
tel. +358 10 516 0031
Distribution:
Nasdaq Helsinki
London Stock Exchange
The principal media
Financial Supervisory Authority
www.sampo.com