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Dividends

At the AGM on 17 April 2018, the payment of a special dividend of NOK 5.00 per common share was approved by shareholders. The last day the shares were traded including the right to receive a dividend was 24 April 2018 and holders of common shares and ADRs on record at the close of business on 26 April 2018 were entitled to the dividend. The first trading date ex-dividend was 25 April 2018. The date of payment of the dividend was 2 May 2018.

Dividend payment history

Financial year Record date Payment date Amount per share
2017 26 April 2018  2 May 2018 5.00 NOK
2016 20 April 2017  26 April 2017  5.00 NOK 
2015 - - Nil
2014 - - Nil
2013 2 July 2014 10 July 2014 3.60 NOK
2012 5 July 2013 12 July 2013 0.60 USD
2011 28 June 2012 5 July 2012 0.60 USD

Dividend policy

It is Subsea 7’s objective to give its shareholders a competitive return on their invested capital. The return is to be achieved through a combination of dividend payments, share repurchases and an increase in the value of the Company’s shares over time through disciplined investment in value-adding growth opportunities.

After evaluating the Company’s financial position and re-investment opportunities each year, the Board of Directors may decide to recommend that shareholders approve at the AGM an appropriate dividend. This dividend will normally be paid in the month following its approval at the AGM.