OCI Announces USD 3.4 Billion Extraordinary Cash Distribution

October 15, 2024 03:17 PM CEST | By Cision
 OCI Announces USD 3.4 Billion Extraordinary Cash Distribution
Image source: Kalkine Media

AMSTERDAM, Oct. 15, 2024 /PRNewswire/ -- OCI Global (Euronext: OCI) ("OCI" or the "Company") announces today that it will pay an interim extraordinary distribution of EUR 14.5 per share in aggregate (USD 3.4 billion) following the successful completion of the sale of Iowa Fertilizer Company LLC ("IFCo") to Koch AG & Energy Solutions in August, and the successful completion of the sale of its shares in Fertiglobe (ADX: FERTIGLB) to Abu Dhabi National Oil Company P.J.S.C. announced today.

The distribution will be made pursuant to the resolutions of OCI's general meeting adopted on 25 April 2024 and 21 August 2024 respectively, and the latter resolution being subject to a creditor opposition period expiring on 23 October 2024.

Payment of the extraordinary distribution is expected to take place on 14 November 2024, subject to no creditors having opposed the distribution. The ex-dividend date is expected to be 28 October and record date to be 29 October.

The distribution will be made as a repayment of capital or, at the election of the shareholder, as a payment from the profit reserve and subject to Dutch Dividend Withholding Tax. Shareholders that do not make a choice will participate in the repayment of capital. A choice for one option implies an opt-out of the other option. 

The expected cumulative crystallization of approximately USD 11.6 billion gross proceeds from OCI's recently announced sales affords OCI significant flexibility to deliver on its capital allocation priorities, including deleveraging at a gross level as well as returning a meaningful quantum of capital to shareholders. The Company will communicate potential further extraordinary dividend distributions in due course.

About OCI Global

Learn more about OCI at www.oci-global.com. You can also follow OCI on LinkedIn.

Contact Details

Sarah Rajani CFA, Global Vice President Investor Relations and Communications
Email: [email protected]  


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (“Kalkine Media, we or us”) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalized advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.

Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.

Recent Articles