The distribution in Topdanmark in the period 1998 to 2017 was in the shape of share buybacks. During this period, it was decided to cancel own shares corresponding to 78.17% of the share capital. At the Annual General Meeting in 2017, it was decided that Topdanmark will discontinue the share buybacks and instead transfer to distribution via dividend.

A stable investment

Topdanmark is one of the largest insurance companies in Denmark with a market share of 16%.

First and foremost, we create value for our shareholders through our core business and not via risky financial investments.

Dividend policy


The objective of Topdanmark’s dividend policy is to distribute excess capital to its shareholders.


Topdanmark has a disciplined approach to capital, thus capital that is not necessary to maintain operations will be distributed to the shareholders and accumulation of unnecessary excess capital will be avoided.



Topdanmark’s Board of Directors has adopted a dividend policy according to which dividend distribution will take place via annual distribution of dividends. Distribution of dividend will take place immediately after the approval at the annual general meeting.

The dividend will correspond to a payout ratio of minimum 70%.

Trend in dividend per share.

Dividend distribution for 2021

Given Topdanmark’s solid own funds, the Board of Directors has recommended to the AGM that distribution of a total dividend of DKK 3,105m takes place, representing DKK 34.5 per share, a pay-out ratio of 145.2 and a dividend yield of 9.4.

The total dividend is made up of an ordinary dividend of DKK 2,115m from this year’s profit of DKK 2,138m, representing DKK 23.5 per share and a pay-out ratio of 98.9, as well as an extra dividend of DKK 990m, representing DKK 11.0 per share.

On 24 March 2022 the AGM approved the Board of Directors recommendation. The distribution of dividends takes place immediately after the AGM.


Robin Løfgren
Head of Investor Relations
IR secretariat
Jens Jørgensen
Head of Shareholder Administration