The SR-Bank share
Goal: To achieve results that provide a good, stable return on the bank's equity in order to create value for the owners.
|Market price 31.12, NOK||60,75||39,30||52,50||60,25||37,20|
|Dividend per share, NOK||2,25||1,50||2,00||1,60||1,50|
|Direct return||3,7 %||3,8 %||3,8 %||2,7 %||4,0 %|
|Yield||58,4 %||-21,3 %||-10,2 %||66,0 %||-4,9 %|
|Book equity per share, NOK||71,54||66,14||60,28||55,00||49,48|
|Earnings per share, NOK||6,87||6,83||8,20||7,28||5,33|
|Payout ratio, net||33 %||22 %||24 %||22 %||28 %|
|No. of shares issued 31.12||255 751 082||255 751 082||255 751 082||255 751 082||255 751 082|
Particular account is taken of the group's capital ratio, including capital adequacy requirements and the group's targets and strategic plans, when setting the annual dividend. The level of the annual cash dividend in the lead up to 2018 will take into account the fact that the banking sector is currently buildingup capital to satisfy new capital requirements. Unless capitalrequirements dictate otherwise, the board's goal will be to ensure that the payout ratio gradually increases in the lead up to 2018. The group's dividend policy calls for around half of the profit after tax to be distributed as a cash dividend.
The parent company's distributable profit in 2016 was NOK 2,032 million, equivalent to NOK 7.95 per share. In line with SpareBank 1 SR-Bank’s dividend policy, various factors have been taken into consideration in determining the dividend, including, in particular, our financial strength and the tier1 capital ratio in light of the new regulatory requirements for banks. The current requirements indicate that the group must have common equity tier 1 capital of 15% by the end of 2017.
It is crucial for SpareBank 1 SR-Bank to maintain the confidence of the investor market by disclosing accurate, relevant and timely information about the group's performance and results. Market information is generally provided via quarterly investor presentations, websites, press releases and financial statements. Regular presentations are also made to international partners, rating agencies, lenders and investors.
It is in SpareBank 1 SR-Bank’s own interests to publish current financial analyses of the highest possible quality. All analysts are treated equally at all times regardless of their recommendations and view of the bank's share. At the end of 2016, 12 brokerage houses officially covered SRBANK. Updated contact information for these is available at all times on this website.
Targets and estimates 2017
Return on equity 11 %
CET 1 capital ratio 15 %
Growth in loans 2,0 - 4,0 %
Normalised growth in costs 2%
Impairment losses 600-800 mill. NOK
Dividend share >35%