Share price
Largest shareholders as at 14 August 2023
Primary insiders
Odfjell Drilling Ltd is listed on the Oslo Stock Exchange, and have an obligation to keep an updated lists of primary insiders. Please follow the link to see who are defined as primary insiders of Odfjell Drilling.
Dividend Policy
The Company’s ambition is to provide shareholders with a competitive return on their shares through a combination of share price appreciation and a direct return in the form of dividends.
The Company will, in the first phase of the programme, target a quarterly dividend level that can be sustained quarter by quarter, with the ambition to grow the cash distributions (measured as USD per share) in the medium-term, reflecting increasing underlying earnings and reducing capex commitments. The Company may also consider to buy back shares as part of total distribution of capital to the shareholders.
The Company will maintain a disciplined capital allocation approach with shareholder distributions always being at the board’s discretion and subject to market outlook, contract backlog, cash flow generation, capital expenditure plans and funding requirements, whilst maintaining financial flexibility.
The Board of Directors will determine the value of the dividend quarterly and revisit the dividend policy annually.
For Q2 2023, the Company has declared a dividend distribution of US 14.2 million. The key details are listed below.
Key details of Q2 dividend:
- Announced currency: USD
- Dividend amount: 0.06 USD / share
- Last day including right: 31 August 2023
- Ex-Dividend Date: 1 September 2023
- Record Date: 4 September 2023
- Payment Date: 13 September 2023
- Date of approval: 22 August 2023
The dividend has been declared in USD with actual NOK payments per share to be determined based on the Norges Bank exchange rate at record date.
General Meeting
The general meeting has the highest authority in Odfjell Drilling and shall be an effective forum for the shareholders and directors.
All registered shareholders have the right to participate in the Annual General Meeting. The notice for Annual General Meetings is sent to the shareholders and made available on the company’s website no later than 21 days before the general meeting.
Shareholders registered in VPS (the Norwegian Registry of Securities) can vote in person or by proxy. Shareholders, who are not able to attend the Annual General Meeting in person, may execute a proxy in the name of another person attending the meeting.
Registrar
DNB Bank ASA, Global Companies Registrars Section
P.O. Box 1600 Sentrum
0021 Oslo, Norway
Contact details:
Jenny Nygård Sørlie, Officer in charge
Tel: +47 23 26 80 16
email: jenny.nygard.sorlie@dnb.no
Auditor
The Company’s auditor is KPMG AS, with business registration number 935 174 627 in the Norwegian Register of Business Enterprises.
KPMG AS
Sørkedalsveien 6, 0369 Oslo,
Norway.
home.kpmg/no/