Two years ago, state-owned utility group Vattenfall and mining company LKAB paid SKr 6.8 and SKr 5.5 billion respectively in dividends to the state. However, the decline in electricity and commodity prices over the last few years has meant that the dividend paid into the state coffers by LKAB for the 2014 financial year shrunk to SKr 139 million, and the forecast for the next few years is gloomy.
The National Financial Management Authority (ESV) forecast in its June report that Vattenfall will pay a dividend of SKr 2.6 billion, and that LKAB will pay SKr 1.6 billion for the 2015 financial year.
The Ministry of Enterprise provides an overall assessment of the dividend pay-out from all of the state-owned companies, rather than predicting dividend pay-outs for individual companies, and will do so in conjunction with the autumn budget proposal.
“Of course we took into account in the spring already that it’s a new situation for many companies in the state portfolio, not least for Vattenfall and LKAB,” says Anna Magnusson, head of division for corporate governance at the Ministry.