# Norway’s DNB announces dividend after posting record Q3 earnings Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2021-10-21 Category: BUSINESS Category URL: https://financedigest.com/category/business Meta Title: Norway's DNB Reports Best Ever Q3 Earnings After Meta Description: DNB, Norway's largest bank, announced its best ever Q3 earnings and a dividend payment for 2020 after pandemic restrictions were lifted. Net profit rose to URL: https://financedigest.com/norways-dnb-announces-dividend-after-posting-record-q3-earningshtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2021-10-21t074806z1lynxmpeh9k0bortroptp3dnb-results-1736837533773-compressed.jpg) By Victoria Klesty and Gwladys Fouche OSLO (Reuters) – Norway’s largest bank DNB reported its best ever third-quarter earnings on Thursday after the country ended pandemic restrictions, and announced it would now make a dividend payment for 2020, sending its shares higher. DNB’s net profit rose to 6.88 billion crowns ($826.88 million) for July-September from 5.55 billion crowns a year earlier, beating an average forecast of 5.76 billion crowns in a poll of analysts compiled by the firm. The Nordic country dropped all domestic [pandemic restrictions](https://www.financedigest.com/are-financial-pandemic-restrictions-coming-to-an-end.html "Are Financial Pandemic Restrictions Coming to an End?") https://www.reuters.com/business/healthcare-pharmaceuticals/norway-end-coronavirus-related-restrictions-saturday-2021-09-24 on Sept. 25. Some 86% of adults were fully [vaccinated against COVID-19](https://www.financedigest.com/ford-asks-u-s-salaried-employees-to-disclose-covid-19-vaccination-status.html "Ford asks U.S. salaried employees to disclose COVID-19 vaccination status") as of Wednesday. Shares in DNB were up 1.9% at 0708 GMT, outperforming a flat Oslo benchmark index. “All important indicators are pointing in the right direction. Norway has reopened, and the [level of activity in the economy is now higher than it was before the shutdowns,” Chief](https://www.financedigest.com/g7-finance-chiefs-agree-on-russian-oil-price-cap-but-level-not-yet-set.html "G7 finance chiefs agree on Russian oil price cap but level not yet set") Executive Kjerstin Braathen said in a statement. We are [seeing a strong](https://www.financedigest.com/italys-mps-sees-safe-habour-ahead-after-strong-quarter.html "Italy’s MPS sees ‘safe habour’ ahead after strong quarter") development in all areas of DNB. Fellow Nordic banks Nordea and Swedbank also [posted rising third-quarter profit](https://www.financedigest.com/ford-posts-lower-profit-issues-downbeat-outlook-shares-drop.html "Ford posts lower profit, issues downbeat outlook; shares drop") on Thursday partly due to economies reopening. Following the record results, DNB will now pay a dividend of 9 crowns per [share to its owners based on last year’s earnings](https://www.financedigest.com/european-shares-rebound-with-focus-on-italian-politics-earnings.html "European shares rebound with focus on Italian politics, earnings"). Norwegian [regulators had proscribed bank](https://www.financedigest.com/austrian-regulator-orders-system-relevant-banks-to-up-capital-buffers.html "Austrian regulator orders system-relevant banks to up capital buffers") dividends due to the COVID-19 pandemic, but those restrictions have since been lifted. The dividend payment is the maximum the bank’s owners permitted the [board to pay out earlier this year](https://www.financedigest.com/2016-must-be-the-year-of-board-level-transparency-and-good-governance.html "2016 must be the year of board level transparency and good governance"). ($1 = 8.3204 Norwegian crowns) (Reporting by Gwladys Fouche and Victoria Klesty; Editing by Edmund Blair and Christopher Cushing) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---