People 2020 027 (2)

Dividends and share buyback

For the operational year 2022, Marel paid EUR 1.56 cents or EUR 11.7 million to shareholders in the form of dividends (2021: EUR 5.12 cents per share or EUR 39.0 million). Marel’s dividend policy was first disclosed at Marel’s annual general meeting in March 2011. Over the past few years, the dividend payout ratio has been between 20-40%. In 2023 Marel purchased no shares as part of a buyback program with the purpose to meet the company’s obligations under share incentive program with employees.

Dividend policy

Based on financial performance, Marel aims to use excess cash to stimulate growth and value creation as well as to pay an annual dividend or buy-back shares, in line with the Company’s targeted capital allocation. Dividend or share buy-back are targeted at 20-40% of net profits.

Dividend history

Please note that the information for each year relates to previous year of operations.

Year of payment

 2023 2022 2021 2020 2019 2018 2017 2016 2015 20141 2013
Dividend per share EUR cents 1.56 5.12 5.45 5.79 5.57 4.19 2.14 1.58 0.48 0.00 0.97
Dividend yield, %2 0.48% 0.86% 1.09% 1.27% 2.0% 1.6% 1.0% 0.9% 0.5% - 1.2%
Payout ratio, %3 20% 40% 40% 40% 30% 30% 20% 20% 30% - 20%
Ex. Dividend date Mar 24 Mar 18 Mar 19 Mar 20 Mar 07 Mar 07 Mar 03 Mar 03 Mar 05 - Mar 07
Record date Mar 27 Mar 21 Mar 22 Mar 23 Mar 08 Mar 08 Mar 06 Mar 04 Mar 06 - Mar 11
Payment date Apr 14 Mar 30 Apr 07 Apr 08 Mar 27 Mar 27 Mar 23 Mar 23 Mar 27 - Apr 05

1 No dividend was paid 2014 for the operational year 2013.
2 Dividend yield, %: Dividend per share / Price per share at previous year-end
3 Payout Ratio: Total dividend paid / Net income of previous year

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Withholding tax on dividends

Information for shareholders who are residents in Iceland, individuals and legal entities holding shares listed on Euronext Amsterdam and limited liability companies resident in the EEA, a state party to EFTA or in the Faroe Islands.

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Share buyback program

In June 2022, Marel initiated a share buyback program on Nasdaq Iceland for up to 4 million shares, or about 0.52% of the total issued share capital in the company and Euronext Amsterdam for up to 1 million shares, or about 0.13% of the total issued share capital. As part of the buyback program, Marel purchased 4.6 million shares (EUR 19.8 million) in the period 1 June 2022 to 2 September 2022. The buyback program on Nasdaq Iceland was discontinued after 1 July 2022, when the maximum number of shares to be purchased was reached and discontinued on Euronext Amsterdam on 2 September 2022, when the buyback program was ended. The purpose of the buyback program was to meet the company’s obligations under share incentive programs with employees.

For more information on the share buy-back programs, including press releases and detailed information on transactions, click below.

View Marel news articles related to share buyback in 2022
Transaction history in relation to share buyback programs XLSX (0.2MB)

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