Financial policy
Nuon’s financial policy, which is part of its general policy and strategy, is to obtain an adequate return for shareholders and protect the interests of bondholders and other lenders, while maintaining the flexibility to grow and invest in the business.
The financial framework within which Nuon aims to operate is:
- A ratio of net profit plus depreciation and amortisation to net debt of at least 30%
- A ratio of net profit (excluding non-recurring tax effects) plus depreciation and amortisation plus net financial income and expense to net financial income and expenses (interest cover) of at least 5
- To ensure a balanced repayment schedule
- To ensure sufficient cash and cash equivalents balances and committed credit facilities
- To maintain a solid A rating profile
Dividend policy
- Intention to distribute a stable cash dividend over the years
- To strive for a cash dividend of at least EUR 45 million per year
- A pay-out ratio of 45% of net profit after tax, adjusted for exceptional items
- Subject to a minimum solvency ratio of 35%