Material cash flow generation and an investment-grade balance sheet enable attractive and resilient dividend distributions. Vår Energi’s long term dividend policy is to distribute 25-30% of cash flow from operations (CFFO) after tax over the cycle.
400
25-30%
| Quarter | Declaration date | Last day including rights | Ex-dividend date | Record date | Payment date |
|---|---|---|---|---|---|
| Q3 2026 | 11.11.2026 | 16.11.2026 | 17.11.2026 | 18.11.2026 | 25.11.2026 |
| Q4 2026 | 29.01.2027 | 03.02.2027 | 04.02.2027 | 05.02.2027 | 12.02.2027 |
| Declaration date | Ex-Date | Record Date | Payment Date | Total dividend (USD million) | Dividend per share (USD) | Dividend per share (NOK) |
|---|---|---|---|---|---|---|
| 17.08.2026 | 21.08.2026 | 24.08.2026 | 01.09.2026 | 350 | 0.14 | 1.355 |
| 29.05.2026 | 03.06.2026 | 04.06.2026 | 12.06.2026 | 300 | 0.12 | 1.110 |
| 30.01.2026 | 03.02.2026 | 04.02.2026 | 12.02.2026 | 300 | 0.12 | 1.209 |
| 11.11.2025 | 17.11.2025 | 18.11.2025 | 25.11.2025 | 300 | 0.12 | 1.211 |
| 22.07.2025 | 18.08.2025 | 19.08.2025 | 26.08.2025 | 300 | 0.12 | 1.222 |
| 23.04.2025 | 29.04.2025 | 30.04.2025 | 08.05.2025 | 300 | 0.12 | 1.245 |
| 10.02.2025 | 17.02.2025 | 18.02.2025 | 25.02.2025 | 270 | 0.11 | 1.213 |
| 21.10.2024 | 28.10.2024 | 29.10.2024 | 05.11.2024 | 270 | 0.11 | 1.180 |
| 22.07.2024 | 29.07.2024 | 30.07.2024 | 06.08.2024 | 270 | 0.11 | 1.184 |
| 22.04.2024 | 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 |
| 23.10.2023 | 03.11.2023 | 06.11.2023 | 16.11.2023 | 270 | 0.11 | 1.204 |
| 24.07.2023 | 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 |
Dividends are registered in NOK in the Euronext VPS system. Investors with a Norwegian bank account will receive payment in NOK. Investors with foreign bank account details may register a preferred payment currency on their VPS account. If no payment currency is registered, the dividend will be converted into the local currency associated with the recipient’s bank account. Any changes must be made through the investor’s VPS account operato
| # | Name | Shares | % of top 20 | % of total | Account Type |
|---|---|---|---|---|---|
| 1 | ENI INTERNATIONAL BV | 1 573 713 749 | 79.35 % | 63.04 % | PRIV |
| 2 | FOLKETRYGDFONDET | 64 429 705 | 3.25 % | 2.58 % | PRIV |
| 3 | THE NORTHERN TRUST COMP, LONDON BR | 44 625 283 | 2.25 % | 1.79 % | NOM |
| 4 | STATE STREET BANK AND TRUST COMP | 41 157 219 | 2.08 % | 1.65 % | NOM |
| 5 | CITIBANK, N.A. | 35 670 896 | 1.80 % | 1.43 % | NOM |
| 6 | STATE STREET BANK AND TRUST COMP | 30 064 534 | 1.52 % | 1.20 % | NOM |
| 7 | CLEARSTREAM BANKING S.A. | 29 831 755 | 1.50 % | 1.19 % | NOM |
| 8 | VERDIPAPIRFONDET ALFRED BERG GAMBA | 27 533 808 | 1.39 % | 1.10 % | PRIV |
| 9 | JPMORGAN CHASE BANK, N.A., LONDON | 18 419 455 | 0.93 % | 0.74 % | NOM |
| 10 | THE BANK OF NEW YORK MELLON | 14 217 672 | 0.72 % | 0.57 % | NOM |
| 11 | AVANZA BANK AB MEGLERKONTO | 13 690 113 | 0.69 % | 0.55 % | MEG |
| 12 | RBC INVESTOR SERVICES TRUST | 13 407 360 | 0.68 % | 0.54 % | NOM |
| 13 | JPMORGAN CHASE BANK, N.A., LONDON | 12 827 780 | 0.65 % | 0.51 % | NOM |
| 14 | JPMORGAN CHASE BANK, N.A., LONDON | 12 718 460 | 0.64 % | 0.51 % | NOM |
| 15 | BNP PARIBAS | 9 357 340 | 0.47 % | 0.37 % | NOM |
| 16 | STATE STREET BANK AND TRUST COMP | 9 224 270 | 0.47 % | 0.37 % | NOM |
| 17 | NORDNET BANK AB | 8 802 956 | 0.44 % | 0.35 % | NOM |
| 18 | STATE STREET BANK AND TRUST COMP | 8 384 682 | 0.42 % | 0.34 % | NOM |
| 19 | THE BANK OF NEW YORK MELLON SA/NV | 7 744 004 | 0.39 % | 0.31 % | NOM |
| 20 | VERDIPAPIRFONDET ALFRED BERG NORGE | 7 514 015 | 0.38 % | 0.30 % | PRIV |
| Total number owned by top 20 | 1 983 335 056 | 79.45 % | |||
| Total number of shares | 2 496 406 246 | 100.00 % |
Last updated 28 October 2026
| 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 41 70 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 |
| Citi | Tianhong Bi | +44 (0)20 7986 4098 | tianhong.bi@citi.com | www.citigroup.com |
| 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 Carnegie | 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 | Alejandra Magana | +1 (212) 270–6000 | alejandra.x.magana@jpmchase.com | www.jpmorgan.com |
| Morgan Stanley | Alice Winograd | +44 20 7425-0174 | alice.winograd@morganstanley.com | www.morganstanley.com/ |
| Nordea | Sondre Snersrud | +47 90 25 05 11 | sondre.snersrud@nordea.com | www.nordea.com |
| Norne Securities | Nojus Juozapavičius | +370 640 10 827 | nojus.juozapavicius@norne.no | www.norne.no |
| 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 |
Every quarter Vår Energi compiles a consensus of the estimates provided by sell-side analysts.
Last update: 15.10.2026
|
USDm |
Q3 2026 |
Full year 2026 |
|---|---|---|
|
Total income |
3 583 |
13 558 |
|
EBITDA |
3 075 |
11 415 |
|
EBIT |
2 255 |
8 050 |
|
Profit/loss before income taxes |
2 180 |
8 174 |
|
Net earnings |
475 |
2 165 |
|
Production costs (USD/boe) |
11.1 |
10.9 |
|
Capex |
796 |
2 824 |
|
Cash flow from operating activities (CFFO) |
1 980 |
6 818 |
|
kboepd |
Actuals for Q3 2026 |
|
|
Crude production |
234 |
247 |
|
Gas production |
118 |
121 |
|
NGL production |
17 |
20 |
|
Total production |
369 |
388 |
|
USD/boe |
||
|
Realised crude price |
103 |
97 |
|
Realised gas price |
108 |
99 |
|
Realised NGL price |
61 |
59 |
|
Average realised price |
103 |
96 |
Method: 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 sellside analyst.
Participants: ABG Sundal Collier, Arctic Securities, Barclays, Citi, Clarksons, Goldman Sachs, Morgan Stanley, Nordea, SEB, SpareBank1 Markets
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: +47 915 04 800
PricewaterhouseCoopers AS
P.O. Box 8017, Kanalsletta 8
NO-4068 Stavanger
Norway