Shareholders and dividends
Shareholder composition and dividends
An overview of the composition of Lundbeck shareholders, the dividend policy and the historical development in Lundbeck’s share capital. The Lundbeck share is listed on the Copenhagen Stock Exchange, Nasdaq Copenhagen.
Shareholders
The Lundbeck Foundation (Lundbeckfond Invest A/S) remains the company’s largest shareholder, holding approximately 80% of the A-shares and 66% of the B-shares. In total, the Foundation owns about 69% of the share capital and controls approximately 77% of the total voting rights in H. Lundbeck A/S.
The Lundbeck Foundation continues to be the only shareholder to report a holding in excess of 5% of the share capital.
Composition of ownership, end 2025
At the end of 2025, institutional ownership of the free float was distributed as follows: investors in North America held 25% (27% in 2024), European (excluding Danish) investors held 56% (53% in 2024), Danish investors held 17% (18% in 2024), and the rest of the world accounted for 1% (2% in 2024).
Composition of free float, end 2025
Capital and dividend
In line with Lundbeck’s dividend policy, it is proposed to pay out a dividend of DKK 1.15 per share or DKK 1,145 million which is an increase of +21% compared to 2024. The proposed dividends correspond to approximately 36% of the net profit and 30% of net profit adjusted for the impairment loss of the planned divestment of Lundbeck Pharmaceuticals Italy S.p.A.
| Share capital, end period (DKKm) |
Share issue (DKKm) | Cancelation of treasury shares (DKKm) | Exercise of warrants (DKKm) | Total number of shares, end period (million)* | Treasury shares, end period (million)* | |
| 2021 | 996 | - | - | - | 199.2 | - |
| 2020 | 996 | - | - | - | 199.1 | - |
| 2019 | 996 | - | - | - | 199.1 | - |
| 2018 | 995 | - | - | - | 199.1 | - |
| 2017 | 995 | - | - | - | 199.0 | - |
| 2016 | 988 | - | - | - | 197.6 | - |
| 2015 | 987 | - | - | - | 197.3 | - |
| 2014 | 980 | - | - | - | 196.1 | - |
| 2013 | 980 | - | - | - | 196.1 | - |
| 2012 | 980 | - | - | - | 196.1 | - |
| 2011 | 980 | - | - | - | 196.1 | - |
| 2010 | 980 | - | - | - | 196.1 | - |
| 2009 | 980 | - | (4) | - | 196.1 | - |
| 2008 | 984 | - | (52) | - | 196.9 | 0.8 |
| 2007 | 1,036 | - | (30) | 5 | 207.3 | 6.7 |
| 2006 | 1,061 | - | (78) | 3 | 212.2 | 4.0 |
| 2005 | 1,136 | - | (36) | 3 | 227.2 | 7.5 |
| 2004 | 1,169 | - | - | - | 233.7 | 5.4 |
| 2003 | 1,169 | - | - | - | 233.7 | 2.3 |
| Share capital, end period (DKKm) |
Total number of A-shares, end period (million)* | Total number of B-shares, end period (million)* | Treasury shares, end period (million)* | |
| 2025 | 995 | 199 | 796 | 3,2 |
| 2024 | 995 | 199 | 796 | 4,5 |
| 2023 | 996 | 199 | 796 | 3,5 |
| 2022 | 995 | 199 |
796 |
2,9 |
| Total dividend (DKKm) | Dividend per share* | Pay-out ratio | |
| 2025 | 1,145 | 1.15 | 36% |
| 2024 | 946 | 0.95 | 30% |
| 2023 | 697 | 0.70 | 30% |
| 2022 | 578 | 0.58 | 30% |
| 2021 | 398 | 2.00 | 30% |
| 2020 | 498 | 2.5 | 31% |
| 2019 | 816 | 4.10 | 31% |
| 2018 | 2,389 | 12.00 | 61% |
| 2017 | 1,592 | 8.00 | 61% |
| 2016 | 483 | 2.45 | 40% |
| 2015 | 0 | 0 | 0 |
| 2014 | 0 | 0 | 0 |
| 2013 | 547 | 2.77 | 64% |
| 2012 | 392 | 2.00 | 35% |
| 2011 | 685 | 3.49 | 30% |
| 2010 | 739 | 3.77 | 30% |
| 2009 | 602 | 3.07 | 30% |
| 2008 | 453 | 2.30 | 30% |
| 2007 | 531 | 2.56 | 30% |
| 2006 | 334 | 1.57 | 30% |
| 2005 | 477 | 2.10 | 30% |
| 2004 | 517 | 2.21 | 30% |
| 2003 | 414 | 1.77 | 30% |
| 2002 | 267 | 1.14 | 21% |
* Based on a share denomination of DKK 5
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