Aker Carbon Capture Declares Extraordinary Cash Dividend of NOK 3.5 Billion

Aker Carbon Capture ASA (ACC), a key member of Aker Horizons' portfolio, has put forth a proposal for an exceptional cash dividend amounting to NOK 3.5 billion. This significant financial move has been recommended by the company’s Board of Directors and is poised to reward stakeholders while ensuring continued operational stability.

Financial Impact and Ownership

The proposed dividend distribution is expected to benefit Aker Horizons, which holds a 43.27% stake in ACC, netting approximately NOK 1.5 billion from the dividend. This strategic decision enhances the overall return on investment for shareholders, reflecting ACC's solid financial performance.

Recent Developments

In June 2024, ACC completed a transaction consolidating its carbon capture operations with SLB, leading to the formation of a joint venture now known as SLB Capturi. In this arrangement, ACC retained a 20% interest in the joint endeavor, while SLB maintains a larger 80% stake. ACC reported a remarkable gain of NOK 4.9 billion from this transaction in its consolidated financials, indicating the success of its operational strategies.

Future Focus

Looking ahead, ACC plans to leverage its stake in SLB Capturi to further develop the carbon capture business, a critical focus area in the current environmental landscape. The proposed cash dividend will not only reward investors but also leave ACC with adequate liquidity to uphold its commitments as a minority partner in this promising venture. The remaining cash reserves post-dividend will also support ACC’s ongoing projects and responsibilities related to contracts established prior to the joint venture.

Approval Process

The proposed cash dividend is contingent upon approval from an extraordinary general meeting, scheduled for March 7, 2025. Shareholders are encouraged to participate in this process, as it represents a pivotal moment for the company and its commitment to its financial stability and growth.

About Aker Carbon Capture

Established in 2020, Aker Carbon Capture ASA focuses on advancing carbon capture technologies, drawing from over two decades of development experience within the Aker group. The company is at the forefront of the green energy shift, dedicated to helping industries reduce their carbon footprints. Aker Horizons, the parent company, is instrumental in driving this transition, targeting Net Zero emissions through innovative and sustainable solutions.

This announcement is a part of ACC’s broader strategy to underpin its role in the green energy sector while rewarding its investors. For further information regarding the proposed dividend and corporate developments, investors and stakeholders can reach out to relevant contact persons listed in the company's announcements.