NORBIT has two primary sources of financing: A short-term facility of NOK 130 million (1M NIBOR + 1.4% margin) and a long-term facility of NOK 150 million (3M NIBOR + 1.8% margin).
As per 30 December 2020, NORBIT had undrawn committed credit facilities of NOK 199.9 million.
Adopted by the Board of Directors on 16 May 2019.
NORBIT ASA’s dividend policy is to pay out annual dividends between 30 and 50 per cent of the company’s ordinary net profit after tax. When deciding on the annual dividend, the company will take into account the company’s financial position, investment plans as well as the needed financial flexibility to provide for sustainable growth.
In deciding whether to propose a dividend and in determining the dividend amount, the Board will take into account legal restrictions, as set out in the Norwegian Public Limited Companies Act, the Company’s capital requirements, including capital expenditure requirements, the Company’s financial condition, general business conditions and any restrictions that its contractual arrangements in place at the time of the dividend may place on its ability to pay dividends and the maintenance of appropriate financial flexibility. Except in certain specific and limited circumstances set out in the Norwegian Public Limited Companies Act, the amount of dividends paid may not exceed the amount recommended by the Board.
The dividends paid in 2018 and 2016 was paid before NORBIT was listed at the Oslo Stock Exchange.
In 2020, NORBIT paid dividends twice, due to the uncertainty created by the Covid-19 virus. In the second quarter, the company paid dividends of NOK 0.30 per share and in the fourth quarter, the company paid dividends of an additional NOK 0.30 per share, bringing the total dividends paid for the fiscal year 2019 to NOK 0.60 per share, an aggregate amount of NOK 34.0 million
In 2019, the Company paid dividends in the aggregate amount of NOK 6.0 million during the first quarter, prior to the listing of the Company’s shares at the Oslo Stock Exchange on 20 June 2019.
In 2018, the Company paid dividends in amounts of NOK 38.979 per share to its shareholders, in aggregate NOK 16.0 million, equivalent to approximately NOK 0.368 per share considering the share split resolved by the Company’s extraordinary General Meeting on 3 May 2019.
No dividends were distributed to the shareholders of the Company in 2017.