In May 2016, the Annual general meeting (AGM) approved the introduction of a two-year scrip dividend programme commencing from the fourth quarter of 2015. In May 2017, the AGM approved to continue the programme through the third quarter of 2017. The Board of Directors considers the dividend policy an important commitment to the company’s shareholders and the dividend policy remains firm.
About the Scrip dividend programme
Anchored in the dividend policy, the Board of Directors proposed to introduce a two-year scrip dividend programme commencing from the fourth quarter 2015.
The scrip dividend programme offers shareholders the option to receive all or part of the quarterly dividends in cash or in newly issued shares in Statoil. The scrip dividend programme is envisaged to cover all distributions of dividend until and including the third quarter 2017.
The scrip dividend programme is expected to strengthen Statoil’s financial robustness in a low price environment. This initiative comes in addition to other measures such as strict financial discipline and significant efficiency improvements. Further, the scrip dividend programme is a tool to strengthen Statoil's financial capacity to invest in profitable projects in a low, volatile and uncertain price environment.
Archive of terms and conditions
|Information related to dividend issues under Statoil's scrip dividend programme|
|Quarterly dividend||Subscription period start||Subscription period end||Completion of share capital increase||Subscription price Oslo Børs (NOK)||Subscription price NYSE (USD)||Total number of shares issued||Total number of shares post dividend issue|
|Q4 2016||29 May 2017||12 Jun 2017||22 Jun 2017|
||13 Mar 2017||24 Mar 2017||6 Apr 2017||137.33||16.18||21,506,370||3,266,555,781|
|Q2 2016||21 Nov 2016||2 Dec 2016||15 Dec 2016||142.35||16.87||18,134,091||3,245,049,411|
|Q1 2016||29 Aug 2016||9 Sept 2016||22 Sept 2016||126.57||15.49||19,969,275||3,226,915,320|
|Q4 2015||30 May 2016||10 June 2016||23 June 2016||130.64||15.97||18,298,942||3,206,946,045|
Dividend dates and payments
Dividends we pay with respect to shares or ADRs will generally be qualified dividend income and subject to 15% withholding tax.
From and including the third quarter of 2015, dividend is declared in USD, and the NOK dividend will be calculated and communicated four business days after the record date for Oslo Børs shareholders. The NOK dividend will be based on average USD/NOK fixing rates from Norges Bank in the period plus/minus three business days from record date, in total seven business days.
Statoil announced the second quarter dividend in both USD and NOK, based on the effective exchange rate. The dividend for the second quarter of 2015 is declared in USD in order to achieve exact NOK 1.80, using the official USD/NOK fixing rate from Norges Bank on 27 July 2015.