Capital Structure and distribution policy
The starting point for determining the level of capital distribution to shareholders is the current and expected future financial leverage as measured by the ratio between NIBD and EBITDA.
The overall targeted financial leverage range is a ratio between 2.0x and 3.0x.
Distribution to shareholders
DKK 599m was distributed to shareholders in 2024 of which DKK 168m was dividend paid in March 2024 and DKK 431m was distributed through a share buyback.
The Board of Directors proposes that no capital is distributed in 2025 as financial leverage is expected to exceed the target leverage range through the year.
The last five years of shareholder distribution
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Dividend paid per share, DKK | 0.00 | 0.00 | 8.00 | 5.00 | 3.00 |
| Dividend paid ex. treasury shares, DKKm | 0 | 0 | 461 | 281 | 168 |
| Share buyback, DKKm | 0 | 0 | 0 | 300 | 431 |
| Total distribution to shareholders, DKKm | 0 | 0 | 461 | 581 | 599 |
| FCFE yield, % | 2.6 | 5.2 | 5.6 | 13.4 | 13.1 |
| Total distribution yield, % | 0 | 0 | 3.1 | 4.6 | 8.2 |
| Cash payout ratio, % | 0 | 0 | 55.9 | 21.0 | 62.6 |
Shareholder return
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Share price change, % | -15.3 | 26.8 | -26.6 | -13 | -40.1 |
| Dividend return, % | 0.0 | 0.0 | 2.3 | 2.0 | 1.3 |
| Total shareholder return, % | -15.3 | 26.8 | -24.4 | -11.1 | -38.8 |
Shareholder valuation
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Equity/share, DKK | 183 | 199 | 227 | 245 | 256 |
| Price/book value, times | 1.5 | 1.8 | 1.1 | 0.9 | 0.5 |
Management
DFDS has a two-tier management structure with an independent Board of Directors.
The DFDS Share
DFDS’ shares are listed on Nasdaq Copenhagen. Learn more about the performance of the DFDS share, its ownership structure and historical stock quote price.
Reports
Read and download our latest reports and presentations. On this page you can search for DFDS' report archive, including annual reports, quarterly reports, and reports on corporate responsibility.