EKF to pay dividend to the Danish state in future
According to a new agreement, EKF is required to pay dividend to the Danish state in future. The payment of dividend will not affect EKF's ability to finance Danish export companies and their customers.
After several years of good results for EKF, the Danish government wants EKF to distribute part of its annual profit as dividend to the Danish state. The agreement is part of the government's new North Sea agreement.
"EKF already contributes to society with both export revenue and jobs. Now we will also make a direct contribution to welfare of more than one billion Danish kroner over the next five years. We only find it natural for our owners to look to EKF, requiring us to contribute to the national budgets after several years of good results," says Anette Eberhard, CEO at EKF.
What matters to us is that the payment of dividend will not affect EKF's ability to finance Danish companies and their customers. We at EKF and the Danish Ministry of Industry, Business and Financial Affairs alike take special care to prevent this.
We are not planning to limit our capacity as a result of the agreement, and we expect to be able to provide exactly the same service to Danish companies as we used to".
EKF's dividend payment
As from the financial year 2016, EKF is required to distribute half of its profit every year, but not exceeding DKK 125 million for 2016 and DKK 140 million for the financial years 2017-2019. As from the financial year 2020, the amount will be reduced to maximum DKK 100 million per year.
In addition, EKF is required to distribute DKK 500 million as a lump sum with its dividend payment for the financial year 2019, so the maximum total distribution for 2019 will be DKK 640 million.