Capital strategy and dividend

Our capital strategy will underpin our attractive dividend policy and contribute to ensuring high and stable nominal dividends on a regular basis.

Gjensidige’s capitalisation shall be adapted at all times to the Group’s strategic goals and appetite for risk.

The Group shall maintain its financial flexibility while exercising strict capital discipline that supports the return on equity target and dividend policy.

All subsidiaries will be capitalised in line with the respective statutory requirements, while capital in excess of the requirements will, as far as possible, be retained in the parent company Gjensidige Forsikring ASA.

The Group will make use of subordinated loans and other external financing in a responsible and value-optimising manner and within the limits set by authorities and rating agencies.

Dividend history

Gjensidige targets high and stable nominal dividends to its shareholders, and a pay-out ratio over time of at least 80 per cent of profit after tax. When determining the size of the dividend, the expected future capital need will be taken into account. Over time, Gjensidige will also pay out excess capital.

Year	Regular			Special		Total dividend
		Per share	NOK million	Per share	NOK million	Per share	NOK million
2024		8.75	4,375			8.75	4,375
Decision date 20.3Ex date 21.3Record date 22.3Payment date 5.4
2023		8.25	4,125			8.25	4,125
Decision date 23.3Ex date 24.3Record date 27.3Payment date 31.3
2022		7.70	3,850			7.70	3,850
Decision date 24.3Ex date 25.3Record date 28.3Payment date 6.4
2021				4.00	2,000	4.00	2,000
Decision date 28.10Ex date 8.11Record date 9.11Payment date 16.11
2021		7.40	3,700			7.40	3,700
Decision date 24.3Ex date 25.3Record date 26.3Payment date 7.4
2021				2.40	1,200	2.40	1,200
Decision date 21.1Ex date 27.1Record date 28.1Payment date 4.2
2020		7.25	3,625	5.00	2,500	12.25	6,125
Decision date 17.9Ex date 22.9Record date 23.9Payment date 30.9
2019		7.10	3,550			7.10	3,550
Decision date 28.3Ex date 29.3Record date 1.4Payment date 9.4
2018		7.10	3,550			7.10	3,550
Decision date 5.4Ex date 6.4Record date 9.4Record date 16.4
2017		6.80	3,400			6.80	3,400
Decision date 7.4Ex date 8.4Record date 11.4Record date 19.4
2016				4.00	2,000	4.00	2,000
Decision date 25.10Ex date 1.11Record date 2.11Record date 10.11
2016		8.40	4,200			8.40	4,200
Decision date 7.4Ex date 8.4Record date 11.4Record date 19.4
2015		5.90	2,950			5.90	2,950
Decision date 23.4Ex date 24.4Record date 27.4Record date 5.5
2014				4.00	2,000	4.00	2,000
Decision date 20.10Ex date 28.10Record date 29.10Record date 6.11
2014		6.80	3,400	6.00	3,000	12.80	6,400
Decision date 24.4Ex date 25.4Record date 29.4Record date 7.5
2013		6.85	3,425			6.85	3,425
Decision date 25.4Ex date 26.4Record date 30.4Record date 8.5
2012		4.55	2,274.6			4.55	2,274.6
Decision date 19.4Ex date 20.4Record date 24.4Record date 4.5
2011		4.70	2,350			4.70	2,350
Decision date 27.4Ex date 28.4Record date 2.5Record date 9.5