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Dividends

Dividends

TORM intends to semi-annually distribute 25 to 50% of net income. The distribution policy will be periodically reviewed and considered in light of TORM’s capital structure, strategic developments, future obligations, market trends and shareholder interests. 

 

TORM’s Board of Directors has decided to declare an ordinary dividend of USD 63.2m, equivalent to USD 0.85 per share. Payment is expected on 10 September 2020 to shareholders of record on 27 August 2020, with the ex-dividend date on 26 August 2020. The distribution corresponds to 50% of net income for the six months ended 30 June 2020 and is in line with the Company’s Distribution Policy. Below is an overview of the key dates and further details of the dividend payment.

17.08.2020 - ANNOUNCEMENT DATE

Dividend payment announced in connection with the Second Quarter and Half-Year Report 2020

20.08.2020 - SUSPENSION OF SHARE TRANSFERS

Temporary suspension of share transfers between Nasdaq in Copenhagen and Nasdaq in New York until the record date

26.08.2020 - EX-DIVIDEND DATE

Shares purchased on Nasdaq Copenhagen and on Nasdaq New York on that day, will not be entitled to dividends

27.08.2020 - RECORD DATE

With two days’ settlement on Nasdaq Copenhagen and Nasdaq New York, shares purchased on 25.08.2020 are owned from this day

28.08.2020 – EXPIRY OF TEMPORARY SUSPENSION OF SHARE TRANSFERS

Open for share transfers between Nasdaq in Copenhagen and Nasdaq in New York

10.09.2020 – Expected DIVIDEND PAYMENT DATE

Payment to shareholders on Nasdaq Copenhagen and on Nasdaq New York will be conducted in local currency

DIVIDEND HISTORY

Announcement date Ex-date Payment date Dividend per share USD
17.08.2020 26.08.2020 10.09.2020 0.85
11.03.2020 17.04.2020 06.05.2020 0.10
16.08.2017 24.08.2017 12.09.2017 0.02
16.08.2016 24.08.2016 15.09.2016 0.40