Dividend Information

Dividend Policy

The Company’s current dividend policy is to maintain a stable dividend, which grows over time. Determination of the dividend is based on the Company’s assessment of the underlying cash flow position and of ‘Directional net income’, where a target payout ratio of between 25% and 35% of ‘Directional net income’ will also be considered.

The Company reviews its dividend policy on a regular basis. The Company plans to simplify the policy by focusing purely on cash flow and removing the additional reference to Directional net income in the policy. This results in the new policy as follows: “The Company’s policy is to maintain a stable dividend, which grows over time. Determination of the dividend is based on the Company’s assessment of its underlying cash flow position”. The proposed change to the dividend policy will be presented for discussion at the AGM on April 10, 2019.

 

Dividend Distribution

In line with the Company’s dividend policy and further taking into account the specific circumstances relating to 2018 including the nature of the non-recurring items, the Company proposes a dividend of US$75 million, or c. US$0.37 per share in respect of 2018, to the AGM on April 10, 2019. This dividend per share calculation is based on number of shares as at December 31, 2018. The final dividend per share will be dependent on the progress of the announced share repurchase program. The proposed dividend represents a c. 50% increase per share compared to last year and represents a pay-out of circa 25% of the Directional 2018 net result. The dividend will be calculated in US dollars but is payable in euros. The conversion into euros will be effected on the basis of the exchange rate on April 10, 2019. Given the Company’s cash position, the dividend will be fully paid in cash. The revised policy will be used to assess the Company’s ability to declare dividend over 2019 onwards.

 

Dividend Timetable

Ex-Dividend Date April 12, 2019
Record Date April 15, 2019
Payment Date May 3, 2019

 

Dividend Reinvestment Plan

SBM Offshore N.V. has agreed to a Dividend Reinvestment Plan (DRIP) that will be offered by ABN AMRO Bank N.V. (ABN AMRO). By participating in this program, shareholders can reinvest their net cash dividend into ordinary shares of SBM Offshore.  Further information regarding the DRIP can be found in “Frequently Asked Questions about the DRIP” or can be obtained by contacting your intermediary or ABN AMRO directly by phone at  +31 (0) 20 344 2000 or by e-mail Corporate Broking ABN AMRO.

Please click here for the Frequently Asked Questions about the DRIP.