New dividend expectation for Statkraft
11.05.2017 11:17 | stock exchange information
The Norwegian government has announced a new dividend expectation for Statkraft in the proposal for the revised State budget.
The proposed new dividend expectation entails that Statkraft shall pay a dividend of 85 per cent of realized profit from Norwegian hydropower business and 25 per cent of realized profit from other business activities. Norwegian hydropower business is defined to constitute the same activities as included in Statkraft's note 4 in the annual report for 2016.
The government explains the new dividend expectation with among other things the increasing need for reinvestments in Norwegian hydropower and that the company shall be given increased possibility for growth in other business activities.
- This is positive for the strategic development of Statkraft as a leading renewable energy company. This will increase the investment capacity and predictability for the Statkraft Group in the years to come, says CEO Christian Rynning-Tønnesen.
The new dividend expectation will be fully implemented with effect from the accounting year 2017. It is proposed that Statkraft pays NOK 2400 million in dividend for the accounting year 2016. The proposal is subject to parliamentary approval.
For further information, please contact:
Senior Vice President Thomas Geiran, tel + 47 90579979, e-mail: Thomas.Geiran@statkraft.com
Press spokesperson Knut Fjerdingstad, tel: +47 901 86 310, e-mail: Knut.Fjerdingstad@statkraft.com
Senior Vice President Bente E. Engesland, tel: +47 911 59 952, e-mail: Bente.Engesland@statkraft.com
Statkraft is a leading company in hydropower internationally and Europe's largest generator of renewable energy. The Group produces hydropower, wind power, gas-fired power and district heating and is a global player in energy market operations. Statkraft has 3800 employees in more than 20 countries.This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.