Corporate Governance

Dividend Policy

Fjordkraft's initial target ambition is to distribute minimum 80% of its net income adjusted for certain cash and non-cash items. In determining the annual dividend level, the Board of Directors will take into consideration, among other things, the excpected cash flow, capital expenditure plans, covenant restrictions in its financial loan agreements, financing requirements (including for any mergers and acquisitions activity) and appropriate financial flexibility. There can be no assurance that a dividend will be proposed or declared in any given year. If a dividend is proposed or declared, there can be no assurance that the dividend amount will be as contemplated above.

Fjordkraft has distributed dividends as indicated below for the recent years.

2016: 120 MNOK

2017: 100 MNOK

2018: 230 MNOK