FRO - DECLARES DIVIDEND
(Thomson Reuters ONE) -
On November 30, 2015 Frontline Ltd. (the "Company" or "Frontline") completed its
previously announced merger with Frontline 2012 Ltd. ("Frontline 2012") with
Frontline as the surviving legal entity and Frontline 2012 becoming a wholly-
owned subsidiary of Frontline.
On December 1, 2015 the Board of Directors of Frontline has approved
implementing a dividend strategy to distribute quarterly dividends to
shareholders equal to or close to EPS adjusted for non recurring items. The
timing and amount of dividends is at the discretion of the Board of Directors.
The Board of Directors is pleased to announce that on December 1, 2015, the
Company declared a dividend of $0.05 per share. The record date for the dividend
is December 18, 2015, ex dividend date is December 16, 2015 and the dividend
will be paid on or about December 30, 2015.
The Board of Directors
Frontline Ltd.
Hamilton, Bermuda
December 1, 2015
Questions should be directed to:
Robert Hvide Macleod: Chief Executive Officer, Frontline Management AS
+47 23 11 40 84
Inger M. Klemp: Chief Financial Officer, Frontline Management AS
+47 23 11 40 76
Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking
statements. Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and underlying
assumptions and other statements, which are other than statements of historical
facts. Words, such as, but not limited to "believe," "anticipate," "intends,"
"estimate," "forecast," "project," "plan," "potential," "may," "should,"
"expect," "pending" and similar expressions identify forward-looking statements.
Forward-looking statements include, without limitation, statements regarding:
* The delivery to and operation of assets by Frontline;
* Frontline's future operating or financial results;
* Future, pending or recent acquisitions, business strategy, areas of possible
expansion, and expected capital spending or operating expenses; and
* Tanker market trends, including charter rates and factors affecting vessel
supply and demand.
The forward-looking statements in this press release are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, examination of historical operating trends, data
contained in records and other data available from third parties. Although
Frontline believes that these assumptions were reasonable when made, because
these assumptions are inherently subject to significant uncertainties and
contingencies which are difficult or impossible to predict and are beyond the
control of Frontline, Frontline cannot assure you that they, or the combined
company, will achieve or accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that could cause
actual results to differ materially from those discussed in the forward-looking
statements, including the strength of world economies and currencies, general
market conditions, including fluctuations in charter rates and vessel values,
changes in demand for tanker shipping capacity, changes in the combined
company's operating expenses, including bunker prices, drydocking and insurance
costs, the market for the combined company's vessels, availability of financing
and refinancing, changes in governmental rules and regulations or actions taken
by regulatory authorities, potential liability from pending or future
litigation, general domestic and international political conditions, potential
disruption of shipping routes due to accidents or political events, vessels
breakdowns and instances of off-hires and other factors. Please see Frontline's
filings with the SEC and the Prospectus for a more complete discussion of these
and other risks and uncertainties. The information set forth herein speaks only
as of the date hereof, and Frontline disclaims any intention or obligation to
update any forward-looking statements as a result of developments occurring
after the date of this communication.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Frontline Ltd. via GlobeNewswire
[HUG#1970759]
Unternehmensinformation / Kurzprofil:
Datum: 02.12.2015 - 08:35 Uhr
Sprache: Deutsch
News-ID 436953
Anzahl Zeichen: 5488
contact information:
Town:
Hamilton
Kategorie:
Business News
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