Equilty capital certificates
Stock price compared with OSEBX and OSEEX
1 Jan 2014 to 31 Dec 2015
OSEBX = Oslo Stock Exchange Benchmark Index (rebased)
OSSEX = Oslo Stock Exchange ECC Index (rebased)
Trading statistics
1 Jan 2014 to 31 Dec 2015
Total number of ECs traded (1000)
| 20 largest ECC holders | Number | Share |
| VPF Nordea Norge Verdi | 4,810,413 | 3.70 % |
| Verdipapirfondet DNB Norge (IV) | 4,147,494 | 3.19 % |
| Sparebankstiftelsen SMN | 3,965,391 | 3.05 % |
| VPF Odin Norge | 3,826,686 | 2.95 % |
| State Street Bank and Trust CO (nominee) | 3,472,091 | 2.67 % |
| VPF Odin Norden | 3,363,290 | 2.59 % |
| VPF Pareto Aksje Norge | 2,909,106 | 2.24 % |
| Vind LV AS | 2,736,435 | 2.11 % |
| VPF Danske Invest Norske Aksjer Inst II | 2,400,567 | 1.85 % |
| Wimoh Invest AS | 2,359,388 | 1.82 % |
| The Bank of New York Mellon (nominee) | 1,892,398 | 1.46 % |
| Pareto AS | 1,821,202 | 1.40 % |
| MP Pensjon PK | 1,792,160 | 1.38 % |
| Forsvarets Personellservice | 1,674,646 | 1.29 % |
| JP Morgan Chase Bank (Nominee) | 1,611,137 | 1.24 % |
| VPF Nordea Kapital | 1,383,148 | 1.07 % |
| DNB Livsforsikring AS | 1,355,550 | 1.04 % |
| State Street Bank and Trust CO (nominee) | 1,329,561 | 1.02 % |
| Verdipapirfondet DNB Norge Selektiv (III) | 1,325,444 | 1.02 % |
| VPF Danske Invest Norske Aksjer Inst. I | 1,207,123 | 0.93 % |
| The 20 largest ECC holders in total | 49,383,230 | 38.03 % |
| Others | 80,453,213 | 61.97 % |
| Total issued ECCs | 129,836,443 | 100.00 % |
Dividend policy
SpareBank 1 SMN aims to manage the Group’s resources in such a way as to provide equity certificate holders with a good, stable and competitive return in the form of dividend and a rising value of the bank’s equity certificate.
The net profit for the year will be distributed between the owner capital (the equity certificate holders) and the ownerless capital in accordance with their respective shares of the bank’s total equity capital.
SpareBank 1 SMN’s intention is that up to one half of the owner capital’s share of the net profit for the year should be disbursed in dividends and, similarly, that up to one half of the owner capital’s share of the net profit for the year should be disbursed as gifts or transferred to a foundation. This is on the assumption that capital adequacy is at a satisfactory level. When determining dividend payout, account will be taken of the profit trend expected in a normalised market situation, external framework conditions and the need for tier 1 capital.
