Material cash flow generation and an investment-grade balance sheet enable attractive and resilient dividend distributions. Vår Energi’s dividend policy is to distribute 20-30% of cash flow from operations after tax over the cycle.
| Quarter | Reporting date | Last day including rights | Ex-dividend date | Record date | Payment date |
|---|---|---|---|---|---|
| Q3 2024 | 22/10/2024 | 26/10/2024 | 28/10/2024 | 29/10/2024 | 05/11/2024 |
| Approval Date | Ex-Date | Record Date | Payment Date | Total dividend (USD million) | Dividend per share (USD) | Dividend per share (NOK) |
|---|---|---|---|---|---|---|
| 23/07/2024 | 29/07/2024 | 30/07/2024 | 06/08/2024 | 270 | 0.11 | 1.184 |
| 23/04/2024 | 29/04/2024 | 30/04/2024 | 08/05/2024 | 270 | 0.11 | 1.192 |
| 12/02/2024 | 19/02/2024 | 20/02/2024 | 27/02/2024 | 270 | 0.11 | 1.136 |
| 24/10/2023 | 03/11/2023 | 06/11/2023 | 16/11/2023 | 270 | 0.11 | 1.204 |
| 24/04/2023 | 04/08/2023 | 07/08/2023 | 14/08/2023 | 270 | 0.11 | 1.091 |
| 21/04/2023 | 03/05/2023 | 04/05/2023 | 10/05/2023 | 270 | 0.11 | 1.148 |
| 15/02/2023 | 24/02/2023 | 27/02/2023 | 03/03/2023 | 300 | 0.12 | 1.226 |
| 24/10/2022 | 02/11//2022 | 03/11/2022 | 09/11/2022 | 290 | 0.12 | 1.225 |
| 25/07/2022 | 04/08/2022 | 05/08/2022 | 11/08/2022 | 260 | 0.10 | 1.025 |
| 26/04/2022 | 05/05/2022 | 06/05/2022 | 12/05/2022 | 225 | 0.09 | 0.827 |
| # | Name | Shares | % of top 20 | % of total | Account Type |
|---|---|---|---|---|---|
| 1 | ENI INTERNATIONAL BV | 1 573 713 749 | 79.55 % | 63.04 % | PRIV |
| 2 | FOLKETRYGDFONDET | 107 187 146 | 5.42 % | 4.29 % | PRIV |
| 3 | GEVERAN TRADING COMPANY LTD | 46 947 876 | 2.37 % | 1.88 % | PRIV |
| 4 | VERDIPAPIRFONDET DNB NORGE | 30 885 140 | 1.56 % | 1.24 % | PRIV |
| 5 | VPF DNB AM NORSKE AKSJER | 24 292 895 | 1.23 % | 0.97 % | PRIV |
| 6 | THE NORTHERN TRUST COMP, LONDON BR | 23 477 189 | 1.19 % | 0.94 % | NOM |
| 7 | STATE STREET BANK AND TRUST COMP | 20 033 083 | 1.01 % | 0.80 % | NOM |
| 8 | JPMORGAN CHASE BANK, N.A., LONDON | 19 506 785 | 0.99 % | 0.78 % | NOM |
| 9 | UBS AG | 19 286 428 | 0.97 % | 0.77 % | NOM |
| 10 | VERDIPAPIRFONDET ALFRED BERG GAMBA | 16 307 187 | 0.82 % | 0.65 % | PRIV |
| 11 | VERDIPAPIRFOND ODIN NORGE | 14 358 551 | 0.73 % | 0.58 % | PRIV |
| 12 | SIX SIS AG | 12 636 001 | 0.64 % | 0.51 % | NOM |
| 13 | UBS SWITZERLAND AG | 10 560 675 | 0.53 % | 0.42 % | NOM |
| 14 | CLEARSTREAM BANKING S.A. | 9 152 213 | 0.46 % | 0.37 % | NOM |
| 15 | DEUTSCHE BANK AKTIENGESELLSCHAFT | 8 856 700 | 0.45 % | 0.35 % | NOM |
| 16 | DANSKE INVEST NORSKE INSTIT. II. | 8 630 400 | 0.44 % | 0.35 % | PRIV |
| 17 | CITIBANK, N.A. | 8 525 428 | 0.43 % | 0.34 % | NOM |
| 18 | VERDIPAPIRFONDET KLP AKSJENORGE | 8 328 183 | 0.42 % | 0.33 % | PRIV |
| 19 | THE BANK OF NEW YORK MELLON SA/NV | 8 020 000 | 0.41 % | 0.32 % | NOM |
| 20 | VPF DNB NORGE SELEKTIV | 7 627 173 | 0.39 % | 0.31 % | PRIV |
| Total number owned by top 20 | 1 978 332 802 | 79.25 % | |||
| Total number of shares | 2 496 406 246 | 100.00 % |
Last updated 2 October 2024
| Firm | Analyst | Phone | Web | |
|---|---|---|---|---|
| ABG Sundal Collier | John Olaisen | +47 22 01 61 87 | john.olaisen@abgsc.no | www.abgsc.com |
| Arctic Securities | Daniel Stenslet | +47 22 93 72 12 | daniel.stenslet@arctic.com | www.arctic.com |
| Barclays | Lydia Rainforth | +44 (0)20 3134 6669 | lydia.rainforth@barclays.com | www.barclays.co.uk |
| BofA Securities | Matthew Smith | +44 (0)20 7996 7109 | matt.smith1@bofa.com | www.bankofamerica.com |
| Carnegie | Oddvar Bjørgan | +47 22 00 93 56 | oddvar.bjorgan@carnegie.no | www.carnegie.no |
| Clarksons | Christoffer Bachke | +47 92 20 25 28 | christoffer.bachke@clarksons.com | www.clarksons.com |
| Danske Bank | Vidar Skogset Lyngvær | +47 85 40 77 84 | vlyn@danskebank.com | www.danskebank.no |
| DNB Markets | Steffen Evjen | +47 24 16 92 97 | steffen.evjen@dnb.no | www.dnb.no/markets |
| Fearnley Securities | Sander Solheim Nilsen | +47 22 93 64 72 | s.nilsen@fearnleys.com | www.fearnleysecurities.com |
| Goldman Sachs | Michele della Vigna | +44 (0)20 7552 9383 | michele.dellavigna@gs.com | www.goldmansachs.com |
| Ing | Quirjin Mulder | + 31 20 563 8757 | quirijn.mulder@ing.com | www.ing.com |
| Jefferies | Mark Wilson | +44 (0)20 7029 8691 | mark.wilson@jefferies.com | www.jefferies.com |
| JP Morgan | Kate Somerville | +44 (0)20 3493 8464 | kate.somerville@jpmorgan.com | www.jpmorgan.com |
| Morgan Stanley | Sasikanth Chilukuru, CFA | +44 (0)20 7425 3016 | sasikanth.chilukuru@morganstanley.com | www.morganstanley.com |
| Nordea | Jørgen Bruaset | +47 93 60 96 01 | jorgen.bruaset@nordea.com | www.nordea.com |
| Pareto Securities | Tom Erik Kristiansen | +47 24 13 21 86 | tomerik.kristiansen@paretosec.com | www.paretosec.com |
| RBC | Victoria McCulloch | +44 (0)20 7429 8530 | victoria.mcculloch@rbccm.com | www.rbcroyalbank.com |
| SEB | Anders Rosenlund | +47 21 00 85 02 | anders.rosenlund@seb.no | www.seb.se |
| SpareBank 1 Markets | Teodor Sveen-Nilsen | +47 24 13 36 06 | teodor.nilsen@sb1markets.no | www.sb1markets.no |
|
USDm |
Consensus |
|
Total income |
1951 |
|
EBIT |
1039 |
|
Profit/loss before income taxes |
1030 |
|
Net earnings |
241 |
|
Production costs (USD/boe) |
14 |
|
Capex |
786 |
|
Cash flow from operating activities (CFFO) |
484 |
|
kboepd |
Production update (11 July) |
|
Crude production |
162 |
|
Gas production |
103 |
|
NGL production |
22 |
|
Total production |
287 |
|
USD/boe |
|
|
Realised crude price |
85 |
|
Realised gas price |
70 |
|
Realised NGL price |
44 |
|
Average realised price |
77 |
Method: Consensus numbers represent the average of the inputs after deducting the highest and lowest value for each item. The consensus figures for Q2 2024 are based on input from 11 sellside analyst
|
USDm |
Consensus |
|
Total income |
1985 |
|
EBIT |
1064 |
|
Profit/loss before income taxes |
812 |
|
Net earnings |
91 |
|
Production costs (USD/boe) |
13.9 |
|
Capex |
722 |
|
Cash flow from operating activities (CFFO) |
928 |
|
kboepd |
Production update (12 April) |
|
Crude production |
169 |
|
Gas production |
111 |
|
NGL production |
19 |
|
Total production |
299 |
|
USD/boe |
|
|
Realised crude price |
84 |
|
Realised gas price |
67 |
|
Realised NGL price |
51 |
|
Average realised price |
75 |
Method: Consensus numbers represent the average of the inputs after deducting the highest and lowest value for each item. The consensus figures for Q1 2024 are based on input from 14 sellside analyst
|
USDm |
Consensus |
|
Total income |
1682 |
|
EBIT |
424 |
|
Profit/loss before income taxes |
420 |
|
Net earnings |
103 |
|
Production costs (USD/boe) |
14.3 |
|
Capex |
676 |
|
Cash flow from operating activities (CFFO) |
754 |
|
kboepd |
Production update (25 Januar) |
|
Crude production |
138.0 |
|
Gas production |
73.8 |
|
NGL production |
13.1 |
|
Total production |
224.9 |
|
USD/boe |
|
|
Realised crude price |
84.8 |
|
Realised gas price |
89.5 |
|
Realised NGL price |
46.9 |
|
Average realised price |
83.9 |
Method: Consensus numbers represent the average of the inputs after deducting the highest and lowest value for each item. The consensus figures for Q4 2023 are based on input from 12 sellside analysts.
|
USDm |
Consensus |
|
Total income |
1628 |
|
EBIT |
941 |
|
Profit/loss before income taxes |
920 |
|
Net earnings |
224 |
|
Production costs (USD/boe) |
15.1 |
|
Capex |
692 |
|
Cash flow from operating activities (CFFO) |
975 |
|
kboepd |
Production update (12 October) |
|
Crude production |
125.6 |
|
Gas production |
70.9 |
|
NGL production |
13.2 |
|
Total production |
209.7 |
|
USD/boe |
|
|
Realised crude price |
87.1 |
|
Realised gas price |
90.8 |
|
Realised NGL price |
42.5 |
|
Average realised price |
85.0 |
Method: Consensus numbers represent the average of the inputs after deducting the highest and lowest value for each item. The consensus figures for Q3 2023 are based on input from 11 sellside analysts.
|
USDm |
Consensus |
|
Total income |
1 444 |
|
EBIT |
787 |
|
Profit/loss before income taxes |
713 |
|
Net earnings |
172 |
|
Production costs (USD/boe) |
14.9 |
|
Capex |
665 |
|
Cash flow from operating activities (CFFO) |
52 |
|
kboepd |
Production update (13 July) |
|
Crude production |
114.7 |
|
Gas production |
73.1 |
|
NGL production |
14.7 |
|
Total production |
202.5 |
|
USD/boe |
|
|
Realised crude price |
78.5 |
|
Realised gas price |
98.5 |
|
Realised NGL price |
37.5 |
|
Average realised price |
81.9 |
Methodology: Consensus numbers represent the average of the inputs after deducting the highest and lowest value for each item. The consensus figures are based on input from 11 sell-side analysts.
|
USDm |
Consensus |
|
Total income |
2101 |
|
EBIT |
1401 |
|
Profit/loss before income taxes |
1258 |
|
Net earnings |
261 |
|
Production costs (USD/boe) |
14.9 |
|
Capex |
676 |
|
Cash flow from operating activities (CFFO) |
1125 |
|
kboepd |
Production update (14 April) |
|
Crude production |
119.0 |
|
Gas production |
82.0 |
|
NGL production |
13.4 |
|
Total production |
214.4 |
|
USD/boe |
|
|
Realised crude price |
83.6 |
|
Realised gas price |
175.5 |
|
Realised NGL price |
54.1 |
|
Average realised price |
115.9 |
Methodology: Consensus numbers represent the average of the inputs after deducting the highest and lowest value for each item. The consensus figures are based on input from 13 sell-side analysts.
|
USDm |
Consensus |
|
Total income |
2345 |
|
EBIT |
1512 |
|
Profit/loss before income taxes |
1724 |
|
Net earnings |
502 |
|
Production costs (USD/boe) |
13.6 |
|
Capex |
694 |
|
Cash flow from operating activities (CFFO) |
341 |
|
kboepd |
Production update (24 January) |
|
Crude production |
122.4 |
|
Gas production |
78.3 |
|
NGL production |
13.5 |
|
Total production |
214.3 |
|
USD/boe |
|
|
Realised crude price |
86.6 |
|
Realised gas price |
181.6 |
|
Realised NGL price |
54.7 |
|
Average realised price |
115.1 |
|
USDm |
Consensus |
|
Total income |
2590 |
|
EBIT |
1888 |
|
Profit/loss before income taxes |
1601 |
|
Net earnings |
340 |
|
Production costs (USD/boe) |
15 |
|
Capex |
655 |
|
Cash flow from operating activities (CFFO) |
1495 |
|
kboepd |
Production update (11 October) |
|
Crude production |
122.0 |
|
Gas production |
78.8 |
|
NGL production |
13.7 |
|
Total production |
214.5 |
|
USD/boe |
|
|
Realised crude price |
107.8 |
|
Realised gas price |
203.9 |
|
Realised NGL price |
61.8 |
|
Average realised price |
139.0 |
Methodology: Consensus numbers represent the average of the inputs after deducting the highest and lowest value for each item. The consensus figures are based on input from 10 sell-side analysts.
|
USDm |
Consensus |
|
Total income |
2503 |
|
EBIT |
1800 |
|
Profit/loss before income taxes |
1734 |
|
Net earnings |
417 |
|
Production costs (USD/boe) |
14 |
|
Capex |
647 |
|
Cash flow from operating activities (CFFO) |
1737 |
|
kboepd |
Production update (11 July) |
|
Crude production |
113.3 |
|
Gas production |
84.6 |
|
NGL production |
11.9 |
|
Total production |
209.8 |
|
USD/boe |
|
|
Realised crude price |
116.0 |
|
Realised gas price |
151.3 |
|
Realised NGL price |
70.9 |
|
Average realised price |
124.1 |
Methodology: Consensus numbers represent the average of the inputs after deducting the highest and lowest value for each item. The consensus figures are based on input from 11 sell-side analysts.
Vår Energi is committed to deliver attractive and sustainable shareholder returns.
On 16 February 2022, Vår Energi was listed on Oslo Stock Exchange (OSE) under the ticker “VAR”. The share offering at NOK 28 per share was substantially oversubscribed and following a successful listing, Vår Energi welcomed approximately 19 000 new shareholders.
Stabilization Notice (March 17, 2022)
Mandatory notification of trade by primary insiders in connection with partial greenshoe exercise (March 17, 2022)
End of stabilization period and partial exercise of greenshoe option (March 17, 2022)
Announcement of Stabilization and Overallotment (February 16, 2022)
Conditional trading in the shares of Vår Energi ASA from 16 February 2022 (February 16, 2022)
Allocation to primary insiders (February 15, 2022)
Bookbuilding successfully completed (February 15, 2022)
Last day of bookbuilding (February 15, 2022)
Offer price fixed at NOK 28 per share (February 14, 2022)
Status of the bookbuilding, use of Upsize Option (February 14, 2022)
Status of bookbuilding (February 10, 2022)
Information Brochure – English (February 7, 2022)
Informasjonsbrosjyre – Norsk (February 7, 2022)
Information Brochure – Swedish (February 7, 2022)
Mandatory notification of trade from primary insiders (February 7, 2022)
Status of bookbuilding (February 7, 2022)
Commencement of the bookbuilding period and the application period (February 7, 2022)
Terms of the initial public offering and update on 2022 dividend (February 4, 2022)
Prospectus (February 4, 2022)
Bestillingsblankett for the Offentlige Tilbudet (February 4, 2022)
Approval and publication of prospectus (February 4, 2022)
Application Form For The Retail Offering (February 4, 2022)
Vår Energi ITF News Release (January 24, 2022)
Vår Energi CPR Q3, 2021 (January 24, 2022)
Corporate Update December 2021 (December 9, 2021)
Custody services/issuer services
P.O. Box 1600, Stranden 21
N-0021 Oslo
Norway
E-mail: kua@dnb.no
Phone: +47 22 26 80 21
PricewaterhouseCoopers AS
P.O. Box 8017, Kanalsletta 8
NO-4068 Stavanger
Norway
