Proposed 2019 dividend of USD 1.80 per share corresponding to USD 511 million
31 January 2020
The Board of Directors of Lundin Petroleum AB (Lundin Petroleum) proposes a 2019 dividend of USD 1.80 per share, corresponding to USD 511 million.
In accordance with the dividend policy as announced on 30 January 2019, the Board of Directors will propose to the 2020 Annual General Meeting a dividend for 2019 of USD 1.80 per share, corresponding to USD 511 million (rounded off), to be paid in quarterly instalments of USD 0.45 per share, corresponding to USD 128 million (rounded off). Before payment, each quarterly dividend of USD 0.45 per share shall be converted into a SEK amount, and paid out in SEK, based on the USD to SEK exchange rate published by Sweden’s central bank (Riksbanken) four business days prior to each record date (rounded off to the nearest whole SEK 0.01 per share). The final USD equivalent amount received by the shareholders may therefore slightly differ depending on what the USD to SEK exchange rate is on the date of the dividend payment. The SEK amount per share to be distributed each quarter will be announced in a press release four business days prior to each record date.
Information about the proposed dividend to be paid out as follows:
|Expected Ex-dividend date||Expected Record date||Expected payment date|
|1 April 2020||2 April 2020||7 April 2020|
|2 July 2020||3 July 2020||8 July 2020|
|1 October 2020||2 October 2020||7 October 2020|
|30 December 2020||4 January 2021||8 January 2021|
In order to comply with Swedish company law, a maximum total SEK amount shall be pre-determined to ensure that the dividend distributed does not exceed the available distributable reserves of the Company and such maximum amount for the dividend has been set to a cap of SEK 9.203 billion (i.e. SEK 2.301 billion per quarter). If the total dividend would exceed the cap of SEK 9.203 billion, the dividend will be automatically adjusted downwards so that the total dividend corresponds to the cap of SEK 9.203 billion.