Equinor commences share buy-back programme
Equinor today commences the first tranche of around USD 300 million, of the new share buy-back programme announced at the Capital Markets Day on 15 June 2021. At the Capital Markets Day Equinor announced a competitive capital distribution with an increase of the quarterly cash dividend to 18 cents per share and the start of a new share buy-back programme, providing a capital distribution structure with increased flexibility.
The first tranche of the share buy-back programme is up to USD 300 million, including shares to be redeemed from the Norwegian State, and will end no later than 28 September 2021. For 2021 the share buy-back programme is expected at USD 600 million, including shares to be redeemed from the Norwegian State.
Starting in 2022 the annual share buy-back programme of around USD 1.2 billion is expected to be executed when Brent oil prices are in or above the range of 50-60 USD/bbl, Equinor’s net debt ratio(1) stays within the communicated ambition of 15-30% and this is supported by commodity prices.
The purpose of the share buy-back programme is to reduce the issued share capital of the company. All shares repurchased as part of the programme will be cancelled.
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