At the end of 2019 SpareBank 1 SMN’s equity certificate (EC) capital totalled NOK 2,597m distributed on 129,836,443 ECs with a nominal value of NOK 20 each. At the turn of the year the group had a treasury holding of ECs totalling NOK 10.6m distributed on 532,460 ECs.
|Key figures and ratios||2019||2018||2017||2016||2015||2014||2013||2012||2011||2010|
|No. of ECs issued, million||129.30||129.62||129.38||129.83||129.83||129.83||129.83||129.83||102.76||102.74|
|Market value (NOKm)||12,956||10,914||10,679||8,407||6,556||7,595||7,141||4,518||3,731||5,124|
|Dividend per EC||6.50||5.10||4.40||3.00||2.25||2.25||1.75||1.50||1.85||2.77|
|Book value per EC||90.75||83.87||78.81||73.26||67.65||62.04||55.69||50.09||48.91||46.17|
|Profit per EC||12.14||9.97||8.71||7.91||7.02||8.82||6.92||5.21||6.06||5.94|
|Price-Book Value Ratio||1.10||1.00||1.04||0.88||0.75||0.94||0.99||0.69||0.74||1.07|
|Payout ratio||54 %||51 %||50 %||38 %||25 %||25 %||25 %||29 %||30 %||47 %|
|EC fraction||64.0 %||64.0 %||64.0 %||64.0 %||64.0 %||64.6 %||64.6 %||64.6 %||60.6 %||61.3 %|
Stock price compared with OSEBX and OSEEX
1 Jan 2018 to 31 Dec 2019
OSEBX = Oslo Stock Exchange Benchmark Index (rebased)
OSEEX = Oslo Stock Exchange ECC Index (rebased)
A new act and regulations on equity certificates, which came into force on 1 July 2009, bring savings banks’ ECs more into line with shares. The new legislation entails greater equality of treatment of savings banks’ various owner groupings and minimises previous concerns related to dilution of EC holders upon payment of cash dividends.
In response to the new legislation, the following dividend policy was established in December 2009, adjusted in 2017:
The bank attaches importance to correct, relevant and timely information on the bank’s progress and financial performance as a means of instilling investor market confidence. Information is communicated to the market via quarterly investor presentations and press releases. Presentations for international partners, lenders and investors are also arranged on a regular basis.
Updated information for investors, the press and brokers is available at all times at smn.no.
SpareBank 1 SMN aims for good EC liquidity and to achieve a good spread across EC holders representing customers, regional investors and Norwegian and foreign institutions.