Finland-based CapMan Oyj announced a new dividend policy and updated its long-term financial objectives Aug. 9.

The private equity company said it will pay an annually increasing dividend to shareholders, on the back of its strong financial position and sturdy balance sheet. The previous policy called for a dividend of at least 75% of EPS, and CapMan noted that it has increased the dividend every year since 2012.

The Nordic firm also increased its targeted equity ratio to more than 60%, compared with the previous objective of an average 40% net gearing. CapMan will continue to target an annual return on equity of 20%, and a combined growth objective for its management company and services business of more than 10%.