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Statoil ASA Announces Details on FY 2012 Dividend; Issues FY 2013 Production Guidance

Friday, 22 Mar 2013 03:00am EDT 

Statoil ASA announced that its Board of Directors proposes fiscal year 2012 of NOK 6.75 per share. The proposed dividend for 2012 will be considered at the annual general meeting on May 14, 2013. The Statoil share will be traded ex-dividend from May 15, 2013, and, if approved, the dividend will be disbursed on May 29, 2013. For US ADR holders, the ex-dividend date will be May 17, 2013. The Company also announced that since it only pays dividends in Norwegian kroner (NOK), exchange rate fluctuations will affect the amounts in US dollars (USD) received by holders of ADRs after the ADR depositary converts cash dividends into USD. The dividend will be made available to the depositary on May 29, 2013. The depositary will convert the dividend into USD at the prevailing exchange rate for NOK and pay the US ADR holders the USD equivalent of the dividend in NOK, minus prevailing bank charges. The payment date for dividend in USD to US ADR holders is expected to be June 5, 2013. The Company also announced that its equity production in 2013 is estimated to be lower than the 2012 level. Statoil will continue to mature its portfolio of exploration assets and expects to complete approximately 50 wells in 2013, with a total exploration activity level of approximately USD 3.5 billion, excluding signature bonuses. Planned maintenance is expected to have a negative impact of approximately 45 mboe per day on equity production for the full year 2013, most of which consists of liquids. 

Company Quote

0.34 +1.89%
19 Dec 2014