Key Information on Flex LNG's Cash Distribution
Flex LNG Ltd., known for its innovative approach in the Liquefied Natural Gas (LNG) sector, is preparing to provide cash distribution to its shareholders for the second quarter. This distribution will be made from the Company’s Contributed Surplus Account, showcasing Flex LNG's commitment to returning value to its investors.
Changes in Settlement Cycle
Starting soon, significant changes will be implemented in the settlement cycle for transactions executed on the stock exchanges linked with Flex LNG. Particularly, for securities traded on the New York Stock Exchange (NYSE), the settlement cycle will shift from T+2 to T+1 from a specified date in the near future. This adjustment aims to enhance the efficiency of trading, allowing shareholders to experience a faster settlement of their transactions.
Impact on Shareholders
This shift in the settlement cycle means that the dates for cash distributions and shareholder rights will differ between the NYSE and the Oslo Stock Exchange (OSE). This can incentivize shareholders to remain informed about the timelines related to their stock transactions, ensuring they maximize their rights and opportunities.
Distribution Details for NYSE Shareholders
For shareholders listed on the NYSE, the following details are pertinent:
- Distribution Amount: $0.75
- Declared Currency: USD
- Last Day Including Right: A date in early September
- Ex-Date: The day after the last day
- Record Date: Same as the Ex-Day
- Payment Date: A mid-September date
- Date of Approval: A notable day in August
Distribution Details for OSE Shareholders
Those shareholders registered under Euronext Securities Oslo can expect:
- Distribution Amount: $0.75
- Declared Currency: USD, distributed in NOK
- Last Day Including Right: A day just before early September
- Ex-Date: A day after the last day for rights
- Record Date: Same as the Ex-Day
- Payment Date: A late September date
- Date of Approval: Aligns with the NYSE approval date
Contact for More Information
For shareholders needing clarification or assistance regarding these distributions, it is advised to reach out to their bank, broker, or any financial intermediary managing their shares. This proactive approach can provide further insights into payment timings and other related queries.
About Flex LNG
Flex LNG is a prominent player in the shipping industry, particularly focusing on the rapidly expanding market for Liquefied Natural Gas (LNG). With a modern fleet consisting of thirteen LNG carriers, Flex LNG prides itself on operating state-of-the-art vessels that utilize the latest two-stroke propulsion technology, resulting in superior fuel efficiency and a reduced carbon footprint. These advancements reflect the company’s dedication to sustainability and innovation in the energy sector. Flex LNG is publicly traded on both the New York Stock Exchange and the Oslo Stock Exchange under the ticker symbol FLNG, drawing interest from a wide array of investors.
Frequently Asked Questions
What is the cash distribution amount for Flex LNG shareholders?
The cash distribution amount for shareholders is set at $0.75 USD.
When will the cash distribution be paid?
The payment date for NYSE shareholders is mid-September, while for OSE shareholders, it's scheduled for late September.
What changes are being made to the settlement cycle for trading?
The NYSE's settlement cycle will change from T+2 to T+1, which may impact how investors manage their trades.
Who should shareholders contact for payment inquiries?
Shareholders should contact their banks, brokers, or financial intermediaries for any questions regarding cash distribution payments.
What is Flex LNG's focus in the LNG market?
Flex LNG focuses on the growth of the LNG market, operating modern vessels equipped with advanced propulsion technology for greater efficiency.
