Kruimeldief schreef op 28 maart 2022 13:50:
Op 14 februari publiceerde OCI:
Dividend / capital allocation policy
OCI’s Board has approved a new dividend / capital allocation policy, which combines a consistent base return of capital of $400 million per year with an additional variable component linked to FCF generated. Distributions will be made twice per year.
Going forward, the policy is subject to maintaining an investment grade credit profile with a target of net leverage below 2x through the cycle, and balance availability of funds and excess FCF for profit distribution to shareholders while pursuing value accretive ESG and other growth opportunities.
H2 2021 Semi-annual interim distribution
OCI announces a proposed payment of an interim distribution for the period H2 2021 of €1.45 per share (or c.$350 million including a $200 million base).
OCI is convening an extraordinary shareholders meeting (EGM) on 28 March 2022 to resolve on the distribution through a repayment of capital with an option to shareholders to elect for a dividend distribution instead, resulting in a distribution to shareholders scheduled for June, subject to a statutory two-month creditor opposition period.
Shareholder approval will be asked for the H2 2021 distribution and for a subsequent distribution scheduled for October of up to €305 million (or c.$350 million). However, the actual amount of the capital return to shareholders pursuant to such second distribution will be subject to further approval by the board at its full discretion with due observance of the applicable dividend policy and applicable regulations. The convening notice and other materials can be found on our website at
www.oci.nl.