Statoil To Commence Scrip Dividend Programme - Quick Facts

(RTTNews) - Norwegian energy firm Statoil ASA (STO) Monday said the subscription period for its previously announced Scrip Dividend Programme will commence on May 30 and expire on June 10.

On May 10, the company made a resolution at the annual general meeting to approve the two year scrip dividend programme commencing from the fourth quarter 2015 and to distribute a dividend of $0.2201 per share for the fourth quarter 2015.

In connection with the Scrip Dividend Programme for the fourth quarter 2015, the company said it will issue up to 160 million Dividend Shares, each with a nominal value of NOK 2.50 per share, for subscription by Existing Shareholders.

Existing Shareholders who have not subscribed for dividend shares at the time of expiry of the Subscription Period will receive their dividend in cash without any action on their part on or about June 24.

The subscription price is expected to be announced on or about June 13.