In deciding whether to propose a dividend and determining the dividend amount in any year, the Board of Directors will comply with the legal requirements set out in the Norwegian Public Limited Liability Companies Act of 13 June 1997 no. 45 (the “Norwegian Public Limited Liability Companies Act”) (see Section 6.2 “Legal constraints”), and take into account the Company’s capital requirements, including capital expenditure requirements, its financial conditions, general business conditions and any restrictions pursuant to its borrowing arrangements and other contractual arrangements in place at the time, in addition to the maintenance of appropriate financial flexibility. Except in certain specific and limited circumstances set out in the Norwegian Public Limited Liability Companies Act, the amount of dividends paid may not exceed the amount recommended by the Board of Directors.
The Board of Directors of the Company has adopted a dividend policy that allows for development of Adevinta’s business and further growth. Thus, the Company’s ambition is to pay a stable and growing dividend going forward while maintaining flexibility to invest in growth. The Company does not expect to pay any dividend in 2019.
There can be no assurance that a dividend will be proposed or declared in any given year. If a dividend is proposed or declared, there can be no assurance that the dividend amount will be as contemplated above.
There have been no dividend pay-outs from the Company since its incorporation on 9 November 2018.