As at 31.12.11, the Group had equity of NOK 6,659 million, equal to an equity ratio of 41 per cent.
Schibsted Media Group is a listed company. We want our shares to be perceived as an attractive investment option. A competitive return must be based on healthy finances. The goal is to ensure a competitive return through long-term growth in the share price and dividend.
The Group’s dividend policy is described in more detail in the Shareholder information.
Purchase of own shares
In order to have flexible capital management, the Group Board has requested the General Meeting for authorisation to repurchase the Group’s own shares. Such an authorisation is granted by the General Meeting for one year at a time. At the Annual General Meeting in 2011, the Group Board was authorised to repurchase own shares in accordance with the Norwegian Public Limited Companies Act. The authorisation states certain terms and conditions regarding the total nominal value of the shares bought, as well as the price that may be paid for the shares. The authorisation makes it clear that the Group Board is free to determine the method of acquisition and any later sale of the shares, and that the authorisation may also be used to buy and sell shares in take-over situations. For further comments on the authorisation, refer to item 14 of this report.
For information on how the authorisation has been used, refer to Shareholder information.