Shares and dividend payments, 1998, preliminary figures

Total allocated dividends for listed companies came to NOK 9.2 billion in 1998. The comparative figure for non-listed companies was NOK 43 billion, or NOK 1.1 billion less than the year before.

Non-listed companies

Despite strong increases in a variety of industries, overall dividend allocations by non-listed companies declined. The main reason for this is that the allocations by oil and gas companies were reduced by all of NOK 7.5 billion, declining from NOK 11.5 billion in 1997 to NOK 4 billion in 1998. Companies in other industries accounted for a NOK 6.3 billion increase in allocated dividends. Allocated dividends rose NOK 1.4 billion to NOK 13 billion in financial intermediation and real estate, by NOK 1.8 billion to NOK 8.2 billion in wholesale and retail trade, hotels and restaurants, and by NOK 0.7 billion to NOK 5.3 billion in manufacturing, mining and quarrying. Transport and communications companies allocated NOK 4.4 billion for dividends, an increase of NOK 1.6 billion from the previous year.

Total assessed value of shares in non-listed companies was NOK 561 billion at the end of 1998. Allocated dividends accounted for eight per cent of the total assessed value.

Listed companies

For listed companies the reduction in allocated dividends was mainly due to smaller allocations by manufacturing, mining and quarrying companies. These companies allocated NOK 3 billion, NOK 0.9 billion less than in 1997. Furthermore, allocations of oil and gas companies were cut by NOK 0.6 billion to less than NOK 0.1 billion. Other companies noted little or no change in overall allocations for dividends.

Overall market value of listed companies at the end of 1998 was NOK 353 billion, down NOK 137.5 billion compared with the same time the year before. Allocated dividends accounted for three per cent of the overall market value, against two per cent in 1997.

Values and rule changes

The non-listed stocks are given as assessed value. Since 1997 the assessed value has made up 65 per cent of the company's total taxable property value. The rate used to be 30 per cent. The market value of listed stocks corresponds to the stock price at the end of the year. Allocated dividends are shown as stock dividends in the accounts and are paid the following year. Allocations can be changed by the annual meeting and such changes are not included in the statistics.

Tables:

• Table 1 Norwegian joint-stock companies. 1994-1998. Million kroner
• Table 2 Norwegian joint-stock companies. Share capital in nominal value by aggregated industries. 1996-1998. Million kroner
• Table 3 Norwegian joint-stock companies. Share capital in assessed value/market value by aggregated industries. 1996-1998. Million kroner
• Table 4 Norwegian joint-stock companies. Share capital in allocated stock dividend by aggregated industries. 1996-1998. Million kroner