#carbon capture #Norway #Aker Carbon Capture #Fornebu #SLB Capturi

Aker Carbon Capture ASA's Remarkable Dividend Proposal

Aker Carbon Capture ASA, a leading name in carbon capture technology, has taken notable steps to enhance shareholder value. On February 12, 2025, the company's Board of Directors announced an extraordinary cash dividend of NOK 5.80 per share, amounting to a generous total of NOK 3.5 billion. This announcement highlights the company's successful journey from a mere starting share price of NOK 1.70 to significant profitability and rewards for its loyal investors.

Kristian Røkke, Chairman of Aker Carbon Capture, expressed enthusiasm regarding this development, stating, "We are pleased to return substantial cash to shareholders while maintaining our commitment to responsible ownership of SLB Capturi." The announcement not only showcases the progress Aker has made in the realm of carbon capture but also reflects its commitment to sustainable and responsible business practices.

The transition from traditional energy sources to sustainable practices has become an urgent necessity globally, and Aker Carbon Capture has positioned itself at the forefront of this revolution. The company made headlines in June 2024 when it formed a joint venture with SLB, now known as SLB Capturi, successfully combining their carbon capture expertise. Aker retains a 20% stake in this joint venture while SLB holds the majority 80%. This collaboration signifies a strong endorsement of both companies' commitment to advancing carbon capture technology, which has become increasingly critical against the backdrop of escalating climate concerns.

In their financial accounts, Aker Carbon Capture reported a staggering NOK 4.9 billion gain from the sale related to the joint venture, underscoring the financial success of their innovative strategies. The funds from the proposed dividend will allow Aker to maintain a healthy balance sheet while continuing to support SLB Capturi's development, particularly in light of current obligations under previously awarded projects.

The strategic proposal clarifies that the dividend payment will be distributed in two separate tranches: NOK 4.82 per share for shareholders as of March 7, 2025, and NOK 0.98 per share for shareholders as of April 25, 2025. However, it's important to note that these payouts are contingent upon the approval of an upcoming extraordinary general meeting (EGM) scheduled for early March 2025, where shareholders will have the opportunity to ratify these plans.

In addition to the dividend, the board aims to realign the company's share capital by proposing a significant reduction of about 98%. This adjustment will not only align with current operational needs but also serve to maximize tax efficiency concerning the dividend's classification as a return of capital under Norwegian tax laws.

As Aker Carbon Capture continues to grow and innovate, the company remains committed to exploring the best avenues to ensure value for its shareholders. Their proactive approach in today’s competitive environment highlights a strong focus on financial stability and strategic foresight. Shareholders can anticipate a robust discussion during the upcoming EGM as they look forward to an affirmative outcome on the dividend proposal and capital realignment plans.

This upcoming period represents a pivotal moment for Aker Carbon Capture ASA as it reinforces its commitment to not only contribute to the vital realm of carbon capture technology but also ensuring substantial returns for its investors. As the global business community gravitates more towards sustainability, Aker’s operational advancements within SLB Capturi will likely place it in an advantageous position for future growth, making it a company to watch closely in the coming years.