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/en/bank-og-finansmarked/statistikker/vpstat/kvartal
176450
High dividends
statistikk
2014-08-13T10:00:00.000Z
Banking and financial markets
en
vpstat, Securities registered with the Norwegian Central Securities Depository, shares, commercial papers, bonds, equity certificates, dividends, stocks, yield, share value, net transactions, share issues, interest yieldSecurities markets , Banking and financial markets
false
The statistics provide an overview of the shares/stocks, bonds and commercial paper market in Norway as well as an overview of bonds and commercial papers issued by Norwegian borrowers abroad. From Q1 2013 to Q1 2014, the debts from bonds and commercial papers issued by Norwegian entities rose by 4 per cent. Forty-eight per cent of this debt was raised in foreign currency.

Securities registered with the Norwegian Central Securities Depository, Q2 2014

In May 2016, the statistics for Securities registered with the Norwegian Central Securities Depository were merged with the Debt securities statistics. The new merged statistics are known as the Securities statistics.

 

The introduction of a new sector standard has caused the old tables to stop being updated. New tables have been added that include time series from the first quarter of 2012 and onwards.

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High dividends

Dividend payouts from companies registered with the Norwegian Central Securities Depository (VPS) amounted to NOK 72 billion in the second quarter of 2014. During the same period, the market value of listed enterprises rose significantly.

Main figures - VPS. Last 4 quarters. NOK BillionPublished 13 August 2014
3rd quarter 20134th quarter 20131st quarter 20142nd quarter 2014
Stocks (market value)
Shares (listed)1 682.01 843.71 876.92 001.6
Shares (unlisted)410.5436.4460.1460.4
Bonds1 641.81 665.21 741.51 742.2
Short-term securities254.9234.1189.7158.4
Equity certificates20.524.524.325.2
 
Dividends/coupon payments
Shares (listed)3.53.57.668.8
Shares (unlisted)0.91.10.63.0
Bonds10.611.510.426.6
Short-term securities0.40.50.40.4
Equity certificates..0.00.20.8

Source: Statistics Norway

In Norway, it is common for companies to pay out dividends in the second quarter of the year. The NOK 72 billion paid in dividends in the second quarter of this year is NOK 4 billion higher than the payouts in the same quarter of the record year 2008. Listed companies accounted for NOK 69 billion of the dividend payouts in the second quarter, while unlisted companies paid out the remaining NOK 3 billion.

From modest to high dividends

Dividend payouts were relatively modest in the years 2009 and 2010 in the wake of the financial crisis and the resulting setback of the world economy. Dividends in these years amounted to NOK 36 billion and NOK 41 billion respectively. Since 2011, dividend payouts have been at a more normal level and have increased from year to year – and to the highest measured dividends of this year.

Public incorporated enterprises with the highest dividend payouts

As in previous years, public incorporated enterprises were the sector that paid out the highest dividends in the second quarter. About half of total dividends were paid out by these public incorporated enterprises. This sector includes the relatively large enterprises Statoil and Telenor, which also happen to be the two enterprises that paid out the most in dividends in the second quarter. Private enterprises were the second highest payers of dividends, with payouts of NOK 20.5 billion; just short of a third of the total dividends. Foreign enterprises paid out NOK 2.7 billion in dividends in the second quarter.

Central government largest receiver of dividends

In the second quarter of 2014, the central government was the largest receiver of dividends. This sector received NOK 27.4 billion in dividends, of which NOK 22.4 billion was paid out by public incorporated enterprises. Foreign investors received in excess of NOK 21 billion in dividends in the second quarter, while households received just over NOK 2.6 billion.

Listed shares increase significantly in value despite dividend payouts

The market value of listed shares increased by NOK 125 billion, or about 6.5 per cent, to NOK 2 000 billion in the second quarter. The share index that most closely follows the stocks of shares of the statistics - the Oslo Børs All-share Index (OSEAX) - increased by 11 per cent in comparison. The main cause for this different development is that the index is adjusted for dividend payouts and capital events.

Decreased stocks of bonds

During the second quarter of 2014, the stocks of bonds stood at NOK 1 742 billion; nearly unchanged from the previous quarter. Stocks of short-term bonds fell by NOK 31 billion to NOK 158 billion during the same period.