Yara will deliver good returns for farmers, industrial customers and its owners
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Cash distribution policy
Yara's objective is to pay dividends averaging at least 30 percent of net income over the business cycle. The company's ambition is to deliver steady growth in absolute dividend payments. The dividend pertaining to a fiscal year will be declared at Yara's annual general meeting in the following year.
In addition, the company expects to use share buy-back programs to achieve an average 40-45 percent of net income in cash payments to the shareholders over the business cycle. Yara will use share buy-back programs when certain conditions are met. Share buy-backs are more flexible than dividends, and buy-backs provide tax advantages compared to dividends for most private shareholders.
Norwegian resident shareholders can adjust their share acquisition price in Norwegian companies for tax purposes (RISK). RISK is calculated each year based upon taxable income for the company.
Yara International ASA was established as a listed company in 2004 through a demerger of Norsk Hydro ASA. RISK was calculated for Yara International ASA for the first time on January 1, 2005. Yara shareholders who acquired their Yara shares through the demerger may also adjust their share acquisition price with RISK calculated on shares in Norsk Hydro ASA for earlier years. Yara shareholders are entitled to 8.5 percent of the RISK calculated on shares in Norsk Hydro ASA bought before January 1, 2004. For more information we refer to the public RISK register and Norsk Hydro ASA web site.
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