Danske Bank will pay out dividend for the first half-year of 2024, intends to distribute released capital from exit of Norwegian personal customer business and the remaining 2024 net profit

    Danske Bank will pay out dividend for the first half-year of 2024, intends to distribute released capital from exit of Norwegian personal customer business and the remaining 2024 net profit

Company announcement no 31 2024

Danske Bank A/S Bernstorffsgade 40 DK - 1577 København V Tel. [phone] 19 July 2024

Danske Bank will pay out dividend for the first half-year of 2024,
intends to distribute released capital from exit of Norwegian personal customer business
and the remaining 2024 net profit

As part of our Forward ’28 strategy, Danske Bank has set clear ambitions to continue our efforts to strengthen our position as a leading bank in the Nordic region for the benefit of customers, society and shareholders. As part of our ambitions, we are committed to consistently generate and distribute capital to our shareholders.

Dividend for the first half-year of 2024
On the basis of our strong financial performance in the first half-year of 2024 and our strong capital position at the end of the period, the Board of Directors has approved an interim dividend of DKK 7.5 per share, corresponding to 56% of net profit for the period. The payment of the dividend will take place on 24 July 2024 with ex-dividend date on 22 July 2024.

Regarding capital distribution for 2025 and beyond, Danske Bank will return to annual dividend payments.

Released capital from Norwegian personal customer exit  
During the fourth quarter of 2024, we intend to distribute the released capital from the exit of our Norwegian personal customer business as an extraordinary dividend payment once the sale to Nordea has closed. The released capital is expected to amount to approximately DKK 5.5 billion.

Distribution of remaining net profit for 2024
Finally, it is the intention of the Board of Directors to distribute the full remaining net profit for the full-year of 2024 in 2025. This is subject to our continued strong financial performance, relevant approvals, including from the Danish Financial Supervisory Authority, and our capital ratios remaining above our capital requirements.

Ongoing value creation
Creating value for our shareholders is crucial in the same way as creating value for customers, employees and the societies we are part of. Being able to attract capital from shareholders is a prerequisite for a bank’s ability to lend and do business. Following some years with limited capital distribution, we are pleased that through our accelerated interim dividend payments in 2023 and 2024, we can benefit large professional investors, which includes almost every major Danish pension fund and private investors. Our shareholders count more than 175,000 private individuals in Denmark, who have chosen to invest part of their savings in Danske Bank shares.
  
Danske Bank’s dividend policy for 2025 and beyond remains unchanged, targeting a dividend payout of 40-60% of net profit in the form of annual dividend payments. Danske Bank has strong capital and liquidity positions, and the Board of Directors remains committed to our capital distribution policy.

Danske Bank

Contact: Mads Sixhøj, Chief Communications Consultant, tel. [phone]

Attachment

• Company announcement no 31 2024