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 Denmark’s second largest insurance company with a market share of 17% for non-life insurance. For life insurance, we come fifth among the commercial companies with a market share of  9%.

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

Dividend distribution policy


The objective of Topdanmark’s dividend distribution 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 distribution policy according to which dividend distribution will take place via annual distribution of dividends. Distribution of dividends will take place immediately after the AGM.

The dividends will correspond to a payout ratio of at least 70%.


Dividend distribution for 2019

The Board of Directors will recommend to the AGM that a dividend of DKK 1,530m be distrib-uted for 2019, representing DKK 17 per share. This represents a payout of 98.9 and a dividend yield of 5.4.


  • 70
    payout ratio

    Minimum 70 % payout ratio on the annual distribution of dividend

  • 1,530

    will be recommended by The Board of Directors to the AGM to be distributed for 2019, representing a payout of 98.9.

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Steffen Heegaard
Head of IR and Group Communications
IR secretariat