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Norden shareholders to get $60m windfall.
(From Lloyds List)
Byline: Tony Gray
NORDEN'S shareholders have approved the Danish bulk shipping company's plans to pay a special dividend which could distribute more than $60m.
An extraordinary general meeting yesterday adopted the board's proposal to pay a dividend of up to DKr175 per share, or a total of DKr389.58m (US$64.5m).
The board expects to decide on the distribution tomorrow with shareholders receiving the payment on Oct 7.
The special dividend should be seen in the context of Norden's strong liquidity, with cash holdings of $150m in the balance sheet at June 30.
Payment of the dividend would ...
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