Flex LNG Announces Important Updates on Cash Distribution for Q4 2024
Flex LNG Ltd., a prominent shipping company focusing on the burgeoning Liquefied Natural Gas (LNG) market, recently announced crucial information related to the cash distribution scheduled for the fourth quarter of 2024. Investors and stakeholders are encouraged to pay close attention to these updates, which highlight distribution amounts, settlement cycles, and important dates for shareholders trading on different exchanges.
The company confirmed that each shareholder will receive a distribution of $0.75 per share, which will be disbursed from the Contributed Surplus Account of Flex LNG. This amount reflects the company's positive performance and commitment to providing returns to its investors. It is vital to note that the declared currency for this distribution will be in USD for NYSE shareholders.
For NYSE investors, the timeline is as follows:
In contrast, shareholders on the Oslo Stock Exchange (OSE) with shares listed in Euronext Securities Oslo will also receive $0.75, but the distribution will be converted into Norwegian Krone (NOK).
In a notable industry update, effective May 28, 2024, the standard settlement cycle for transactions executed in securities traded on the New York Stock Exchange will be shortened from T+2 (transaction date plus two business days) to T+1. Conversely, trades on the Oslo Stock Exchange will continue to follow the T+2 settlement timeframe. This change could impact the flexibility for investors wishing to transfer shares between the two exchanges during the transitional period.
Flex LNG has garnered a reputation for its state-of-the-art vessels equipped with the latest generation two-stroke fuel-efficient propulsion systems (MEGI and X-DF). With thirteen LNG carriers actively operating, the company stands out for significantly reducing carbon footprints compared to older shipping technologies. The management’s continuous commitment to innovation enhances not only operational efficiency but also contributes positively to the company's financial performance and shareholder returns.
As the LNG sector continues to expand globally, Flex LNG is well-positioned to leverage market opportunities, ensuring long-term growth and sustainable practices. Stakeholders are encouraged to stay informed about the company's developments by reaching out to their corresponding banks, brokers, or financial intermediaries for any inquiries regarding the cash distribution and upcoming operational updates.
Moreover, for any additional questions about the distribution or the overall performance of Flex LNG, investors are advised to contact Knut Traaholt, Chief Financial Officer of Flex LNG Management AS, via phone or email as provided in their official releases.
In summary, Flex LNG’s announcement signifies a promising outlook for its investors, reflecting both the company's commitment to financial transparency and its robust operational framework aimed at addressing the rising global demand for LNG. Stakeholders should mark their calendars for the important dates outlined above to ensure they do not miss out on their entitled distributions in 2025.
Distribution Details for Investors
The company confirmed that each shareholder will receive a distribution of $0.75 per share, which will be disbursed from the Contributed Surplus Account of Flex LNG. This amount reflects the company's positive performance and commitment to providing returns to its investors. It is vital to note that the declared currency for this distribution will be in USD for NYSE shareholders.
For NYSE investors, the timeline is as follows:
- - Last day including right: February 19, 2025
- - Ex-date: February 20, 2025
- - Record date: February 20, 2025
- - Payment date: March 5, 2025
- - Date of approval: February 3, 2025
In contrast, shareholders on the Oslo Stock Exchange (OSE) with shares listed in Euronext Securities Oslo will also receive $0.75, but the distribution will be converted into Norwegian Krone (NOK).
- - Last day including right: February 18, 2025
- - Ex-date: February 19, 2025
- - Record date: February 20, 2025
- - Payment date: March 10, 2025
- - Date of approval: February 3, 2025
Changes in Settlement Cycle
In a notable industry update, effective May 28, 2024, the standard settlement cycle for transactions executed in securities traded on the New York Stock Exchange will be shortened from T+2 (transaction date plus two business days) to T+1. Conversely, trades on the Oslo Stock Exchange will continue to follow the T+2 settlement timeframe. This change could impact the flexibility for investors wishing to transfer shares between the two exchanges during the transitional period.
Flex LNG's Commitment to Innovation
Flex LNG has garnered a reputation for its state-of-the-art vessels equipped with the latest generation two-stroke fuel-efficient propulsion systems (MEGI and X-DF). With thirteen LNG carriers actively operating, the company stands out for significantly reducing carbon footprints compared to older shipping technologies. The management’s continuous commitment to innovation enhances not only operational efficiency but also contributes positively to the company's financial performance and shareholder returns.
As the LNG sector continues to expand globally, Flex LNG is well-positioned to leverage market opportunities, ensuring long-term growth and sustainable practices. Stakeholders are encouraged to stay informed about the company's developments by reaching out to their corresponding banks, brokers, or financial intermediaries for any inquiries regarding the cash distribution and upcoming operational updates.
Moreover, for any additional questions about the distribution or the overall performance of Flex LNG, investors are advised to contact Knut Traaholt, Chief Financial Officer of Flex LNG Management AS, via phone or email as provided in their official releases.
In summary, Flex LNG’s announcement signifies a promising outlook for its investors, reflecting both the company's commitment to financial transparency and its robust operational framework aimed at addressing the rising global demand for LNG. Stakeholders should mark their calendars for the important dates outlined above to ensure they do not miss out on their entitled distributions in 2025.
Topics Financial Services & Investing）
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