The first instalment of the proposed quarterly cash dividend of USD 0.5625 per share will amount to SEK 5.30 per share

The first instalment of the proposed quarterly cash dividend of USD 0.5625 per share will amount to SEK 5.30 per share

The first instalment of the proposed quarterly cash dividend of USD 0.5625 per share will amount to SEK 5.30 per share

29 March 2022

Lundin Energy AB (Lundin Energy) announces that the first instalment of the proposed quarterly cash dividend of USD 0.5625 per share will amount to SEK 5.30 per share, with a total amount of MSEK 1,508, corresponding to approximately MUSD 160. The proposed quarterly cash dividend remains subject to approval by the 2022 Annual General Meeting (AGM) that will be held on 31 March 2022.

Information about the first instalment of the proposed quarterly cash dividend:

Amount per share
(SEK)
Total dividend amount
(MSEK)
  Ex-dividend date Record date Expected payment date
5.30 1,508 1 April 2022 4 April 2022 7 April 2022

The Board of Directors has proposed to the 2022 AGM a quarterly cash dividend for 2021 of USD 0.5625 per share, corresponding to MUSD 160 (rounded off) per quarter.

According to the proposal, before payment, each quarterly cash dividend of USD 0.5625 per share shall be converted into a SEK amount 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) and the exchange rate used for the conversion is 9.424.

The proposed quarterly cash dividend remains subject to approval by the 2022 Annual General Meeting (AGM) that will be held on 31 March 2022. The dividend proposal is available on www.lundin-energy.com.

As part of the combination proposal with Aker BP, the Board of Directors has also proposed that the 2022 AGM resolves on a so-called Lex Asea distribution of all shares in Lundin Energy MergerCo AB (publ), which will contain the E&P business. If the proposed quarterly cash dividend is approved by the 2022 AGM, payment of the quarterly cash dividend shall be conditional upon that Lundin Energy owns the E&P business on the record date for each quarterly cash dividend.