Dividends & capital history

An overview of historical number of shares, dividends, stock buybacks and policy.

Novozymes’ decision to buy back stock or issue extraordinary dividends is based on an assessment of the need for capital, capital structure optimization, and whether excess capital can be invested in profitable growth opportunities. Stock buybacks may also be carried out to cover employee stock option obligations.

Novozymes’ dividend pay-out ratio for 2012 was 34.1%. The pay-out ratio will be increased gradually over the next 1-2 years to around 35% of net profit.

In 2011, it was decided to initiate a new share buyback program worth up to DKK 2 billion over a two-year period starting in 2012. The program was contingent upon no major acquisitions being made. In 2012, Novozymes bought back shares worth a total of DKK 831,847,334 between January 20 and October 29. The buyback program was terminated with the announcement of the strategic partnership with, and acquisition of an equity position in, Beta Renewables.

The B common stock was reduced by DKK 10,600,000 from DKK 542,512,800 to DKK 531,912,800 following the approval at the Annual Shareholders' Meeting on February 28, 2013.

 

Full capital history including number of shares

Year
Dividend/ share
Share capital (million)*
Average outstanding number of shares (million)**
Average outstanding number of shares incl. share options in the money (million)**
​2012 ​2.20 ​650 ​313.9 ​318.3
2011
1.90
650
315.2
320.0
2010
1.60
650
313.2
319.4
2009
1.15
650
310.3
315.3
2008
1.05
650
309.3
315.0
2007
1.00
650
309.6
318.1
2006
0.90
650
314.4
322.5
2005
0.80
696
327.3
335.3
2004
0.70
726
341.4
349.2
2003
0.63
754
352.3
354.3
2002
0.45
754
361.7
366.1
2001
0.40
754
368.1
371.4
2000
0.33
754
376.5
377.0

 

All figures restated to reflect stock split as of November 28, 2011.
* Share capital as per end year
** The average number of shares outstanding during the year
(excluding the holding of own shares)

In the capital history of Novozymes there has only been 1 stock split. On November 28, 2011 Novozymes carried out a 1-to-5 stock split. The nominal value of Novozymes’ B shares listed on NASDAQ OMX Copenhagen changed from DKK 10 to DKK 2. The split also applied to nontraded A shares.