Flex LNG Cash Distribution Information for Q3 2024
Flex LNG Ltd. is preparing for an important cash distribution for the third quarter of 2024. This dividend will be drawn from the Contributed Surplus Account of the company. Shareholders should be aware of the specific details as they prepare for this payment.
Settlement Cycle Adjustments Impacting Shareholders
From the end of May 2024, the standard settlement cycle for securities traded on the New York Stock Exchange (NYSE) will shift from T+2 to T+1. This means that transactions will now settle one day faster, a change that aims to enhance the efficiency of trading on the NYSE. It’s important to note that the Oslo Stock Exchange (OSE) will maintain its T+2 settlement schedule. As a result, there will be a period where the settlement dates differ for investors trading on these platforms.
Impact on NYSE Shareholders
For shareholders on the NYSE, the upcoming distribution details are as follows: The distribution amount is set at $0.75. The declared currency is USD. The last day to include rights for the distribution is November 26, 2024. The ex-date will be November 27, 2024, which is when shares will start trading without the entitlement to the distribution. The record date, which determines who receives the distribution, is also November 27, 2024, with a payment date anticipated on or about December 11, 2024. Shareholders are encouraged to note the approval date, which is November 11, 2024.
Details for OSE Shareholders
For those shares registered with Euronext Securities Oslo, the distribution will also be $0.75, initially declared in USD and converted to NOK. The last day for including rights is set for November 25, 2024, with the ex-date being November 26, 2024. The record date remains the same as for NYSE shareholders on November 27, 2024. Payments for OSE shareholders are estimated to occur on or about December 16, 2024, and the approval date is again November 11, 2024.
Contact for Payment Timing Questions
For any questions regarding the timing of these cash distributions, shareholders should reach out to their bank, broker, or financial intermediary. Flex LNG is committed to providing clarity and support for those seeking more information regarding their respective distributions.
About Flex LNG
Flex LNG is a prominent player in the shipping industry, specializing in the burgeoning market for Liquefied Natural Gas (LNG). With a fleet of thirteen state-of-the-art LNG carriers, the company takes pride in its modern vessels, which utilize the latest generation two-stroke propulsion systems, like MEGI and X-DF. These advancements in ship design contribute significantly to improved fuel efficiency and a reduced carbon footprint when compared to older ship models. Flex LNG is recognized on both the New York Stock Exchange and Oslo Stock Exchange under the ticker symbol FLNG.
Frequently Asked Questions
What is the cash distribution amount for FLNG shareholders?
The cash distribution amount for Flex LNG shareholders is set at $0.75 per share.
When will the payment for the cash distribution be made?
For NYSE shareholders, the payment date is expected to be around December 11, 2024, while for OSE shareholders, it is around December 16, 2024.
How does the new settlement cycle affect NYSE transactions?
The new T+1 settlement cycle means transactions on the NYSE will settle one day quicker than before, improving trading efficiency.
What are the important dates for shareholders?
Key dates include the last day including rights (Nov. 26 for NYSE, Nov. 25 for OSE), ex-dates (Nov. 27 for both), and record dates (Nov. 27 for both).
Who can shareholders contact for more information?
Shareholders are advised to contact their bank, broker, or other financial intermediaries for questions regarding payment timings and processing.
