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Landsvirkjun pays 10bn ISK dividends for 2019

April 22, 2020

The Board of Landsvirkjun's proposal for a 10 billion ISK dividend payment to owners for the year 2019 was approved during the Annual General Meeting, held today. This amounts to just over double the amount of the previous year's dividend payments, which amounted to 4.25 billion ISK. During the years prior to that, yearly dividend payments amounted to 1.5 billion ISK.

At the meeting, it was disclosed that return on equity required by the owner – the Icelandic state – is 7.5%.

During the meeting, the Minister of Finance and Economic Affairs re-appointed Board members for Landsvirkjun’s Board of Directors.

Members of Landsvirkjun’s Board of Directors: Jónas Þór Guðmundsson, Álfheiður Ingadóttir, Jón Björn Hákonarson, Guðfinna Jóhanna Guðmundsdóttir and Gunnar Tryggvason.

The Annual General Meeting confirmed the Board of Directors’ report and consolidated accounts for the past financial year. The financial statements can be found here: https://www.landsvirkjun.is/Media/financial-statements-lv-2019.pdf.

Deloitte ehf. was elected as the audit company for Landsvirkjun as recommended by the Icelandic National Audit Office.

Jónas Þór Guðmundsson re-elected Chairman of the Board

Jónas Þór Guðmundsson was re-elected Chairman of the Board and Álfheiður Ingadóttir was elected Vice Chairman of the Board, at the first meeting held by the Board.

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