Dividends

Responsible approach towards Dividend Policy

Dividend Pay-Outs in 2017

SSH supports the development and efficiency of operations of its portfolio companies, and, by means of its decisions made at General Meetings of Shareholders of companies, pursues a responsible approach to Dividend Policy in terms of advocating a suitable balance between dividend yield and development needs of companies. The total of EUR 266.8 million of "regular" dividends arising from the ownership of SSH and RS capital assets were collected for FY 2017. If combined with "additional" dividends by Telekom Slovenija and Nova Ljubljanska banka, considered as one-off events, the total amount of all dividends collected amounts to a record-hitting sum of EUR 487.3 million (EUR 259,7 million for FY 2016). As there were several one-off events recorded in this year, such high dividend pay-outs are not to be expected in the future.

 

Dividends-to-equity ratio of RS and SSH portfolios of equity stakes in the 2015 -2017 period, excluding dividend income arising from one-off events

v 000 EUR RS SDH RS+SDH
  2015 2016 2017 2015 2016 2017 2015 2016 2017
Total of book-value of assets as at 31 December 10,810,410 9,629,203 10,213,060 780,845 818,974 675,610 11,591,255 10,448,177 10,888,669
Dividend amount per financial year 142,162 213,734 228,643* 43,821 45,927 38,143* 185,983 259,660 266,785*
Dividends-to-equity ratio 1.3 % 2.2 % 2.2 %* 5.6 % 5.6 % 5.6%* 1.6 % 2.5 % 2.5 %*

*When all dividends received for FY 2017 are taken into account (including dividend income arising from one-off events), the dividends for RS for FY 2017 amount to EUR 446,943,222, which gives the dividend-to-equity ratio of 4.4% for RS for 2017. The sum of dividends paid to SSH, including one-off events (additional dividend income by Telekom Slovenije d.d.,  amounts to EUR 40,365,344, which gives the dividend-to-equity ratio of 6.0 % for SSH for 2017. The total sum of dividends of SSH+RS portfolio for FY 2017, including one-off events, amounts to EUR 487,308,566, which gives the dividend-to-equity ratio of 4.5 % for SSH+RS portfolio for 2017.

 

The amounts of all dividends received by SSH and RS (including dividend income arising from one-off events)  for FYs 2015-2017 period (in EUR)

Note: All dividend amounts received by RS include dividends paid out by Zavarovalnica Triglav of which 34.47 per cent shareholding that is managed by SSH for RS is owned by the Pension and Disability Insurance Institute of Slovenia (ZPIZ). The graph also includes dividends arising from one-off events recorded in 2017 (NLB and Telekom Slovenije).