In light of their strong liquidity position the Board of Directors of Subsea 7 S.A. (Oslo Børs) will recommend to the shareholders at the Annual General Meeting (AGM) on April 12 that a special dividend be paid, it was announced from Luxembourg.
A dividend of NOK 5.00 per share will be paid, equivalent to a total dividend of approximately US$200 million. The proposed agenda and the notice to convene the AGM will be published and distributed to eligible shareholders on 15 March.
Dates to remember
The deadline for submission of votes for holders of American Depositary Receipts ) ADRs is 5 April and for holders of common shares is 7 April . If the AGM approves the proposed payment of a special dividend of NOK 5.00 per share, the last day the shares will be traded including the right to receive a dividend will be 18 April and holders of common shares and ADRs on record at the close of business on 20 April will be entitled to the dividend. The first trading date ex-dividend will be 19 April. The date of payment of the dividend is 26 April.
