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.
| Approval Date | Ex-Date | Record Date | Payment Date | Total dividend (USD million) | Dividend per share (USD) | Dividend per share (NOK) |
|---|---|---|---|---|---|---|
| 10/24/2023 | 11/03//2023 | 11/06//2023 | 11/16//2023 | 270 | 0.11 | 1.204 |
| 7/24/2023 | 8/4/2023 | 8/7/2023 | 8/14/2023 | 270 | 0.11 | 1.091 |
| 4/21/2023 | 5/3/2023 | 5/4/2023 | 5/10/2023 | 270 | 0.11 | 1.148 |
| 2/15/2023 | 2/24/2023 | 2/27/2023 | 3/3/2023 | 300 | 0.12 | 1.226 |
| 10/24/2022 | 11/2/2022 | 11/3/2022 | 11/9/2022 | 290 | 0.12 | 1.225 |
| 7/25/2022 | 8/4/2022 | 8/5/2022 | 8/11/2022 | 260 | 0.10 | 1.025 |
| 4/26/2022 | 5/5/2022 | 5/6/2022 | 5/12/2022 | 225 | 0.09 | 0.827 |
| Name | Shares | % of top 20 | % of total | Account Type |
|---|---|---|---|---|
| ENI INTERNATIONAL BV | 1 573 713 749 | 73.98 % | 63.04 % | PRIV |
| SPRINGPOINT HOLDING II AS | 328 391 713 | 15.44 % | 13.15 % | PRIV |
| FOLKETRYGDFONDET | 33 260 334 | 1.56 % | 1.33 % | PRIV |
| GEVERAN TRADING CO LTD | 29 947 876 | 1.41 % | 1.20 % | PRIV |
| THE NORTHERN TRUST COMP, LONDON BR | 20 155 190 | 0.95 % | 0.81 % | NOM |
| VERDIPAPIRFONDET DNB NORGE | 12 905 401 | 0.61 % | 0.52 % | PRIV |
| CORE ENERGY HOLDING AS | 12 691 351 | 0.60 % | 0.51 % | PRIV |
| JPMORGAN CHASE BANK, N.A., LONDON | 11 758 025 | 0.55 % | 0.47 % | NOM |
| SKANDINAVISKA ENSKILDA BANKEN AB | 10 584 756 | 0.50 % | 0.42 % | NOM |
| VERDIPAPIRFONDET ALFRED BERG GAMBA | 10 175 698 | 0.48 % | 0.41 % | PRIV |
| VPF DNB AM NORSKE AKSJER | 9 764 457 | 0.46 % | 0.39 % | PRIV |
| STATE STREET BANK AND TRUST COMP | 9 149 836 | 0.43 % | 0.37 % | NOM |
| DANSKE INVEST NORSKE INSTIT. II. | 8 582 200 | 0.40 % | 0.34 % | PRIV |
| SIX SIS AG | 8 556 608 | 0.40 % | 0.34 % | NOM |
| PURE E&P HOLDING AS | 8 356 769 | 0.39 % | 0.33 % | PRIV |
| UBS SWITZERLAND AG | 8 254 999 | 0.39 % | 0.33 % | NOM |
| STATE STREET BANK AND TRUST COMP | 8 156 927 | 0.38 % | 0.33 % | NOM |
| VERDIPAPIRFOND ODIN NORGE | 8 145 385 | 0.38 % | 0.33 % | PRIV |
| VPF DNB NORGE SELEKTIV | 7 349 790 | 0.35 % | 0.29 % | PRIV |
| THE BANK OF NEW YORK MELLON SA/NV | 7 192 150 | 0.34 % | 0.29 % | NOM |
| Total number owned by top 20 | 2 127 093 214 | 85.21 % | ||
| Total number of shares | 2 496 406 246 | 100.00 % |
Last updated 30 November 2023
| 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 |
| 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 |
| Jefferies | Mark Wilson | +44 (0)20 7029 8691 | mark.wilson@jefferies.com | www.jefferies.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 |
| 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@sblmarkets.no | www.sb1markets.no |
|
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
