Magnora ASA cash distribution and extended buyback programme

The payment of NOK 0.187 is a regular quarterly cash distribution to shareholders in the form of repayment of paid-in capital in excess of the par value of the Magnora share.

The Board’s decision is based on the authorisation to the Board from the Annual General Meeting (AGM) held on 23 April 2024 and Magnora’s sound financial position, the steady growth of the project portfolio, and the outlook for cash flow including project sales and revenues.

Dividend amount: NOK 0.187 per share
Last day including right: 28 April 2025
Ex-date: 29 April 2025
Record date: 30 April 2025
Payment date: 05 May 2025

The Board also decided to extend, until the AGM on 29 April 2025, the share buyback programme launched on 5 September 2024.

The terms of the programme remain unchanged, as this is merely an extension of the existing program to permit buyback transactions until the AGM next week.

Transactions will be carried out by market purchases in accordance with the authorisation granted by the AGM on 23 April 2024 and based on the market price on the Oslo Stock Exchange. The maximum consideration to be paid for shares is NOK 35 per share and NOK 50 million in aggregate. The programme will be terminated no later than 29 April 2025. Magnora may at any time without further notice close or suspend the programme. Shares purchased will be used to reduce the number of outstanding shares, for the issuing of compensation shares or other corporate purposes. The maximum number of shares purchased in any one day is limited to 50% of the average weighted daily volume of Magnora shares traded in the 20 trading days preceding the day of purchase.

In the notice to the AGM 2025 the Board has proposed authorisations to the Board to perform share buybacks up to 10% of the share capital and to approve cash return of capital to the shareholders. Subject to authorisation from the AGM to perform share buybacks, the Board intends to launch a renewed buyback programme shortly after the AGM.

Magnora’s financial strategy and cash return policy: 
Magnora allocates capital to where the company expects a return well above the cost of capital. The capital structure is normally all equity based with substantial cash. Taking into account the need for growth capital and expected future cash flows, excess capital will normally be returned to the shareholders through dividend, repayment of paid-in capital or share buybacks with subsequent cancelling of shares. Such excess capital may include received earn-out payments related to past project sales, which upon receipt may lead to extraordinary dividend or cash return.