The board of directors of Marine Harvest ASA is pleased to put forward a proposal for a NOK 0.10 per share extraordinary dividend to the 2013 Annual General Meeting. The reinstatement of a dividend in Marine Harvest should be seen as a sign that the Board of Marine Harvest has confidence in the Company's current financial situation and looks positively on the Company's expected future cash flow. The proposal is backed by the current favourable market for European salmon combined with an expectation of a tight market during the next couple of years. The successful outcome of the Morpol offer and the attractive financing achieved to finance this acquisition has provided further comfort to the proposal. In line with earlier defined strategy the Board has a target that a material part of the Company's free cash flow should be distributed to the shareholders in the form of a dividend distribution.
Ok, Q1 report is out. They have eps NOK 0.20 and pay half of it for special div. The debt ratio is still 50.3% (above the trigger of 50%), but they want to give out div anyway. I wonder the report stating preparing for secondary listing in US may shake up a bit?
MHG does not pay a quarterly stable dividend like most companies it is a percentage of profits after meeting a certain threshold that I can't recall. But the yield can be huge. For some reason Yahoo is not showing the dividends they paid in the past but I believe it was something like a 20% yield. You can find thier dividend policy on the ir website
I think it will be the only one div in 2013 as the announcement/proposal mention it's an 'extraordinary' div. Any idea why there's no market response (sp down rather than up)? Is it because the puny 1.7% yield?
If that were quarterly I get a yield of 6.5% or so based on today's trading. Is this a one time dividend or is MNHVF's a variable policy or do they attempt to keep a more predictable/consistent dividend pay out for investors?