Statoil adopts annual report, approves dividend of NOK 7.00 per share
On 14 May 2014 the annual general meeting of shareholders in Statoil ASA (OSE: STL, NYSE: STO) adopted the annual report and accounts for Statoil ASA for 2013, as proposed by the board of directors, the Company said Wednesday in a press release.
The annual accounts and the annual report for Statoil ASA and the Statoil group for 2013 were approved, and a dividend of NOK 7.00 per share will be distributed. The dividend accrues to the shareholders as of 14 May 2014. Statoil's shares listed on the Oslo Stock Exchange (Oslo Børs) will be traded ex-dividend as of 15 May 2014. American Depositary Shares (ADS) listed on the New York Stock Exchange will be traded ex-dividend as of 15 May 2014. The expected dividend payment for Statoil’s shares on Oslo Stock Exchange (Oslo Børs) is on 28 May 2014. The expected payment date for dividends in USD under the US American Depository Receipts (ADR) program is 4 June 2014.
The general meeting authorised the board to implement quarterly dividend payments from 1. quarter 2014. The board has approved the payment of interim dividend for 1. quarter 2014 of NOK 1.80 per share, provided that there is an approved registration of the authorisation in the Norwegian Brønnøysund Register Centre. The interim dividend accrues to the shareholders as of 13 August 2014. Statoil’s shares listed on Oslo Stock Exchange (Oslo Børs) and the American Depositary Shares (ADS) listed on New York Stock Exchange will be traded ex-dividend as of 14 August 2014. The expected dividend payment date for Statoil’s shares on Oslo Stock Exchange (Oslo Børs) is on 28 August 2014. The expected payment date for dividends in USD under the US American Depository Receipts (ADR) program is 5 September 2014.
Olaug Svarva (chair), Tom Rathke and Elisabeth Berge were re-elected, and Tone Lunde Bakker was newly elected, as members of the nomination committee for the period until the 2016 annual general meeting. Johan A. Alstad was re-elected as personal deputy for Elisabeth Berge for the same period.
Persons elected as deputy members of the corporate assembly for the period until the 2016 annual general meeting were the following: Arthur Sletteberg (existing deputy member), Bassim Haj (existing deputy member), Nina Kivijervi Jonassen (new deputy member) and Birgitte Vartdal (new deputy member).
The general meeting gave its approval of the board's statement on stipulation of salary and other remuneration for the executive management. It also approved the remuneration to the company's auditor, the corporate assembly and the nomination committee.
The general meeting authorised the board to acquire shares in Statoil ASA in the market in order to continue the share saving plan for employees. The general meeting also authorised the board to acquire shares in Statoil ASA in the market for subsequent annulment.
Three proposals had been submitted by shareholders in advance, namely that Statoil should withdraw from oil sands activities in Canada, that Statoil should not operate in icy laden waters in the Arctic and that Statoil should terminate its engagements in Angola and Azerbaijan and re-invest the released capital in increasedresearch, development and production of sustainable energy. These proposals were not adopted.
Stavanger, Norway headquartered Statoil ASA, is a Norwegian multinational oil and gas company with operations in thirty-six countries. Statoil was formed by the 2007 merger of Statoil with the oil and gas division of Norsk Hydro. The company has about 23,000 employees. The Government of Norway is the largest shareholder in Statoil with 67% of the shares, while the rest is public stock.
