Dividend and financial policy

The Board of Directors of Swedish Match is positively disposed toward continuously passing on to shareholders those funds that are not considered necessary for the expansion and consolidation of the Group, after taking Group financial objectives into consideration.

The dividend policy of the Company is a pay-out ratio of 40 to 60 percent of the earnings per share, subject to adjustments for larger one time items. The Board has further determined that the financial policy should be that the Group will strive to maintain a net debt that does not exceed three times EBITA.

Dividend history

	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996
Dividend, SEK	5.50	4.75	4.10	3.50	2.50	2.10	1.90	1.70	1.60	1.45	1.35	1.22	1.08	1.05	1.05

Table data
Transfer of capital to Swedish Match shareholders	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996
Dividend	1.181	1,089	1,024	886	664	627	612	558	535	508	490	539	474	510	510
Redemptions, net	-	-	-	-	-	-	-	-	-	-	996	-	1,147	-	-
Repurchase of own shares, net	2,961	2,547	934	2,453	3,585	1,411	576	904	552	1,169	905	-	-	-	-
Total	4,142	3,636	1,958	3,339	4,249	2,038	1,188	1,462	1,087	1,677	2,391	539	1,621	510	510

Page updated Sep 27, 2011

Other contacts

Addresses

Stockholm: Swedish Match AB
Corporate Headquarters
Box 7179
SE-103 88 Stockholm; Visiting address:
Västra Trädgårdsgatan 15; Phone: +46 8 658 0200; Fax: +46 8 720 7656; contactus@swedishmatch.com