3. Equity and dividends

Equity
The parent company’s share capital at 31 December 2016 amounted to NOK 17.6 million (NOK 17.3 million). 

Total equity for the group at 31 December 2016 was NOK 584.8 million, corresponding to an equity ratio of 43.2 per cent. Considering the nature and scope of Kitron’s business, the board considers that the company has adequate equity.

Dividend policy
Kitron's dividend policy is to pay out an annual dividend between 30 and 60 per cent of the company's ordinary net profit after tax. When deciding on the annual pay-out ratio, the company will take into consideration the cash requirements and financial flexibility required on the company.

Mandates granted
Existing mandates granted to the board, to issue shares and to purchase its own shares, are presented in the shareholder information section of the annual report. The mandates are restricted to defined purposes and limited in time to no later than the date of the next Annual General Meeting.