Energia
Aker ASA: Board of Directors Amends Dividend Proposal to Meet Effects of Current Market Situation
Due to increased uncertainty following the recommendation on February 13, 2020 , the board resolved on March 31 to amend the proposal to ask the general meeting not to conclude on a dividend payment of NOK 23.50 . Aker will, hence, book no provision for dividend in the 2019 accounts. Instead, the board proposes that it is authorized to resolve the distribution of dividends based on the company's annual accounts for 2019, with the aim of making this assessment semi-annually. In its assessment, emphasis will be placed on the market situation and prospects, activity level, investment opportunities and needs, as well as other relevant factors.
Aker ASA's main shareholder, TRG (68.2 percent shareholding), has recommended that the board considers a distribution of half of the originally proposed dividend, i.e. NOK 11.75 per share, in the second quarter this year. TRG has also expressed willingness to reinvest its proportion of such a dividend in an equity or subordinated instrument issued by Aker ASA. Other shareholders will also be invited to reinvest proportionally in the same instrument (structure and terms to be defined). If the market situation and outlook have stabilized, a similar dividend should be considered by the board in the fourth quarter this year.
Investors:
Torbjørn Kjus, Chief Economist & Head of Investor Relations
Phone: +47 94 14 77 30
Media:
Atle Kigen , Head of Corporate Communications
Phone: +47 90 78 48 78
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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https://news.cision.com/aker-asa/r/aker-asa-board-of-directors-amends-dividend-proposal-to-meet-effects-of-current-market-situation,c3078448