Dividend of NOK 11 Approved by the Annual General Meeting
May 12 2004 - 3:41AM
PR Newswire (US)
Dividend of NOK 11 Approved by the Annual General Meeting OSLO,
Norway, May 12 /PRNewswire-FirstCall/ -- The Annual General Meeting
of Norsk Hydro ASA has 11 May adopted the Board's proposal to
distribute a dividend of NOK 11.00 per share. The dividend will be
paid on 28 May 2003 to shareholders who are listed in the company's
register as of 11 May. Shares will be traded ex-dividend from 12
May, while American Depositary Receipts (ADR) have been traded
ex-dividend since 7 May. The Annual General Meeting also authorised
the Board to buy back shares within the next 18 months with the
intention of subsequent cancellation. The authorisation is limited
to buying 2,808,810 shares in the market. Based on an agreement
with the Norwegian State, Hydro's largest shareholder, a
proportional part of the State's shares may be bought for
cancellation. The State's ownership share will therefore remain
unaffected by the buyback and cancellation. In total, up to 5
million shares may be cancelled, equivalent to approximately 2
percent of the outstanding shares. Final decisions on cancellation
will have to made with a majority of 2/3 in a future General
Meeting. The following members of the Corporate Assembly were
reelected: Svein Steen Thomassen, Siri Teigum, Aase Gudding
Gresvig, Westye Hoegh, Idar Kreutzer, Sylvi A. Lem, Karen Helene
Midelfart, Anne Merete Steensland, Sigurd Storen, Lars Tronsgaard
and Svein Aaser. Sten-Arthur Saelor was elected as new member of
the Corporate Assembly. Contact Cecilie Ditlev-Simonsen Idar Eikrem
Telephone (+47) 22 53 20 97 (+47) 22 53 32 73 Cellular (+47) 41 55
92 50 (+47) 95 02 83 63 E-mail DATASOURCE: Norsk Hydro ASA CONTACT:
Cecilie Ditlev-Simonsen, +47-22-53-20-97, or cell, +47-41-55-92-50,
or , or Idar Eikrem, +47-22-53-32-73, or cell, +47-95-02-83-63, or
, both of Norsk Hydro ASA Web site: http://www.hydro.com/
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