27. Oct 2022
DKK 1.8 billion paid out in dividends in 2021
Statistics on dividends by industry branch for companies in the non-financial sector have been updated up to and including 2021.
A dividend is a distribution of a company’s profits paid out to its shareholders.
DKK 1.8 billion paid out in dividends in 2021
Samanlagt fyri øll feløg var vinningsbýtið 1,8 milliardir krónur í 2021, ið er nærum 600 milliónir meira enn í 2020, tá vinningsbýtið var gott og væl 1,2 milliardir krónur.
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The industry branches that have paid the highest dividends in 2021 were ‘Agriculture, forestry and fishing’ (DKK 466 million), ‘Manufacturing’ (DKK 507 million) and ‘Wholesale and retail trade; Repair of motor vehicles and motorcycles’ (DKK 445 million). While dividend payments in ‘Agriculture, forestry and fishing’ and ‘Manufacturing’ dropped in 2020 and then went back up in 2021, dividends in ‘Wholesale and retail trade; Repair of motor vehicles and motorcycles’ went up in both 2020 and 2021.
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Within ‘Agriculture, forestry and fishing’, companies in the ‘Marine fishing’ and ‘Aquaculture’ branches paid the highest dividends, with the former paying dividends of DKK 131 million in 2021 and the latter paying DKK 335 million.
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Within ‘Manufacturing’, companies in the ‘Manufacture of food products’ topped the list, paying DKK 395 million in dividends in 2021, compared to DKK 130 million in 2020.
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Wholesale and retail trade; Repair of motor vehicles and motorcycles
This industry paid a total of DKK 445 million in dividends last year. The branches in this industry with the highest dividends were ‘Sale of motor vehicles’, ‘Wholesale of food, beverages and tobacco’ and ‘Other specialised wholesale’.
Firms in the ‘Sale of motor vehicles’ branch paid DKK 26.3 million in dividends in 2021. ‘Wholesale of food, beverages and tobacco’ paid almost DKK 228 million, of which DKK 218 million came from ‘Wholesale of other food, including fish, crustaceans and molluscs’.
Firms in the ‘Other specialised wholesale’ branch paid just under DKK 90 million in dividends in 2021. ‘Other specialised wholesale’ is predominantly made up of ‘Wholesale of solid, liquid and gaseous fuels and related products’ and ‘Wholesale of wood, construction materials and sanitary equipment’.
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Dividends in ’Activities of head offices’ are left out in an effort to exclude internal dividend payments from the figures above.
The international NACE industry classification system
Statistic Faroe Islands’ statbank classifies firms into industrial branches according to production activity. The Faroese industry classification is based on the international NACE industry classification system, with certain modifications that make it possible to place e.g. the fishing industry, a relatively large industry in the Faroe Islands, into a separate category.
Examples of the four-digit NACE codes:
A Agriculture, forestry and fishing NACE Level 1, sections
A03 Fishing and aquaculture NACE Level 2, divisions
A03.1 Fishing NACE Level 3, groups
A03.11 Marine fishing NACE Level 4, class, international level
A03.11.10 Wetfisheries NACE Level 5, class, Faroese figures
The ’non-financial’ sector
The above figures include all companies in the non-financial sector, except quasi corporations such as Apoteksverkið (the National Pharmaceutical Agency) and Rúsdrekkasøla Landsins (the Alcohol Monopoly of the Faroe Islands).
This means that the following industry sections are not included as they fall outside the non-financial sector:
K: Financial and insurance activities, which are part of the financial sector
O: Public administration and defence; compulsory social security
T: Activities of households as employers; undifferentiated goods- and services-producing activities of households for own use
U: Activities of extra-territorial organisations and bodies.