Business Context and Reporting Period
This Form 6-K filing by StatoilHydro ASA (now Statoil ASA) dated May 20, 2009, reports on the Ordinary General Meeting held on May 19, 2009. The company is a Public Limited Company engaged in the exploration, production, transportation, refining, and marketing of petroleum and other energy forms. The meeting focused on the adoption of the 2008 annual report and accounts.
Key Financial Metrics and Dividend Distribution
- Dividend Declaration: A total dividend of NOK 7.25 per share was approved for 2008.
- Dividend Composition: NOK 4.40 per share ordinary dividend and NOK 2.85 per share special dividend.
- Payment Details: Expected payment date is June 3, 2009, to shareholders of record as of May 19, 2009.
- Ex-Dividend Date: May 20, 2009, for both Oslo Stock Exchange shares and NYSE American Depository Shares (ADS).
- Auditor Remuneration: NOK 25,222,778 approved for the 2008 fiscal year.
- Share Repurchase Authorization: Up to NOK 15,000,000 nominal value authorized for the employee share saving plan (price range NOK 50–500 per share).
Note: The filing text does not provide specific values for total revenue, net profit, cash flow, margins, debt, or liquidity for the 2008 period; it only confirms the adoption of the accounts containing this data.
Material Changes and Corporate Actions
- Corporate Name Change: The Articles of Association were amended to officially change the company name from "StatoilHydro ASA" to "Statoil ASA," effective no later than January 1, 2010.
- Corporate Assembly: Arthur Sletteberg was elected as a new deputy member to the corporate assembly.
- Executive Remuneration: The board's statement on executive management remuneration was approved.
Outlook, Risks, and Shareholder Proposals
- Shareholder Proposal: A proposal requesting the company withdraw from tar sands activities in Canada was presented but not adopted.
- Management Commentary: The filing contains no specific forward-looking guidance, risk factors, or management commentary regarding future operational outlook beyond the standard approval of the 2008 accounts.
Key Facts for Investor Verification
- Verify the ex-dividend trading status on May 20, 2009, for both Oslo and NYSE listings.
- Confirm the actual payment of the NOK 7.25 per share dividend on June 3, 2009.
- Monitor the implementation date of the name change to "Statoil ASA" (deadline: Jan 1, 2010).
- Review the full 2008 Annual Report (referenced but not included in this text) for detailed revenue, profit, and debt metrics.