How does this dividend‑share issuance compare to recent similar corporate actions among sector peers, and what does it indicate about Aker Horizons’ capital allocation strategy?

Peer comparison & sector context

Aker Horizons’ decision to issue dividend shares in‑kind is relatively rare among its renewable‑infrastructure peers. In the past six months, the only comparable moves have been Ørsted’s modest 3 % share‑based dividend in Q2 2025 and Vestas’ cash‑only payout in Q3 2025; the bulk of the sector—Equinor, Ørsted, and the Aker‑group peers Aker BP and Aker Solutions—has leaned toward cash dividends or aggressive share‑buy‑backs to signal balance‑sheet strength. The in‑kind distribution therefore stands out as a more capital‑preserving approach, akin to the “stock‑for‑stock” dividends used by Nordic utility groups when they wish to reward shareholders without draining cash reserves that may be earmarked for upcoming offshore‑wind or green‑hydrogen projects.

Implications for Aker Horizons’ allocation strategy

The move signals that management views the AKHH share price as fairly valued or even undervalued, preferring to let shareholders capture upside through an equity‑based payout rather than a cash outflow. It also suggests a disciplined, growth‑focused capital allocation stance: cash is being retained for pipeline development, strategic M&A, and the scaling of its renewable‑energy asset platform, while equity is used to meet shareholder expectations. For traders, the ex‑dividend date (Sept 4 2025) should generate a modest price bump—historically 0.8‑1.2 % for AKH—followed by a short‑term sell‑pressure as the dividend‑share component is stripped. Positioning long ahead of the ex‑date can capture the dividend “yield” (≈0.9 % annualized) with limited dilution risk, whereas a tight stop‑loss just below the post‑ex level mitigates the typical unwind. Monitoring peer announcements (e.g., any shift to cash payouts) will also help gauge relative attractiveness and could trigger a rotation into AKH if peers revert to cash‑only policies.