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On 15 May 2019, the annual general meeting (AGM) of shareholders in Equinor ASA (OSE: EQNR, NYSE:EQNR) approved the annual report and accounts for Equinor ASA for 2018, as proposed by the board of directors.
The annual accounts and the annual report for Equinor ASA and the Equinor group for 2018 were approved, and a dividend of US dollar ("USD") 0.26 per share will be distributed for the fourth quarter of 2018.
The fourth quarter 2018 dividend accrues to the shareholders as registered in Equinor’s shareholder register with the Norwegian Central Securities Depository (VPS) as of expiry of 20 May 2019 (the ”Record Date”).
Subject to ordinary settlement in VPS, this implies that the right to dividends accrues to shareholders as of 15 May 2019. The shares will be traded ex-dividend on the Oslo Stock Exchange (Oslo Børs) from and including 16 May 2019. For US ADR (American Depository Receipts) holders, dividend accrues to the ADR-holders as of 16 May 2019, and the ex-dividend date will be from and including 17 May 2019.
Shareholders whose shares trade on Oslo Børs will receive their dividend in Norwegian kroner (”NOK”). The NOK dividend will be communicated on 24 May 2019. The expected payment date for the dividend is on or around 29 May 2019.
The AGM authorised the board of directors to resolve quarterly dividend payments until the next ordinary annual general meeting, but not beyond 30 June 2020.
A proposal from two shareholders had been submitted in advance, suggesting that Equinor should refrain from oil and gas exploration and production activities in certain areas. This proposal was not adopted.
Furthermore, a shareholder had proposed that Equinor should set medium and long-term quantitative targets that include Scope 1, 2 and 3 greenhouse gas emissions. The shareholder’s proposal was not adopted.
A proposal from a shareholder was linked to a new direction for the company including phasing out of all exploration activities within two years. This proposal was not adopted.
Another shareholder had proposed that all Equinor‘s efforts within CO2 capture and storage should be immediately abandoned. This proposal was not adopted.
The AGM endorsed the board’s report for 2018 on Corporate Governance. Furthermore, the AGM endorsed the board's guidelines on stipulation of salary and other remuneration for executive management and approved the part of the proposal related to remuneration linked to the development of the company’s share price. Remuneration to the company's external auditor was also approved.
The proposal of the corporate assembly to the general meeting to elect Ernst & Young AS as the group’s new external auditor as of the accounting year 2019 was approved by the AGM.
The AGM authorised the board to acquire Equinor shares in the market on behalf of the company in order to continue the share saving plan for employees. The authorisation shall be valid until the next annual general meeting, but not beyond 30 June 2020.
The AGM also authorised the board to acquire Equinor shares in the market for subsequent annulment. Own shares acquired pursuant to this authorisation may only be used for annulment through a reduction on the company’s share capital. The authorisation shall be valid until the next annual general meeting, but not beyond 30 June 2020.
Please find enclosed the complete minutes of the AGM.
Peter Hutton, senior vice president for investor relations,
tel: +44 7881 918 792
Helge Hove Haldorsen, vice president for investor relations USA,
tel: + 1 281 224 0140
Bård Glad Pedersen, vice president for media relations,
tel: +47 91 80 17 91
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act