Norden soars to 13-year high on interim dividend, buyback

Dampskibsselskabet Norden A/S

18/08/2022 09:11

** Shares in Dampskibsselskabet Norden  DNORD.CO  soar
around 14% to a 13-year high after the Swedish heating
technology specialist announced an interim dividend and a share
buy-back programme  urn:newsml:reuters.com:*:nFWN2ZU1JX  urn:newsml:reuters.com:*:nFWN2ZT5S8
   ** Kepler Cheuvreux analyst Anders Redigh Karlsen points to
the DKK 30($4.1) dividend and the initiation of another share
buy-back programme as "the main surprise in the report"
    ** "Returning cash to shareholders is an important signal as
I see it in the current strong earnings environment," Redigh
Karlsen says
    ** In total, Norden will return DKK 1.1 bln (approx. $151.7
mln) to shareholders
    ** At DKK 400, Norden's share price is at its highest since
Sept. 2008


 (Louise Breusch Rasmussen)
 ((Louisebreusch.rasmussen@thomsonreuters.com))