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Dividend

Dividend policy

Pandox’s target is a dividend pay-out ratio of between 30-50 percent of cash earnings, with an average payout ratio over time of approximately 40 percent. Future dividends, and the size of any such dividends, are dependent on Pandox’s future performance, financial position, cash flows, working capital requirements, planned investments and other factors.

Taking into account the effects of the pandemic and the Covid-related government support received, Pandox has paid no dividend in 2019, 2020 and 2021.