The decision was announced in conjunction with the company presenting its third quarter results on November 26. To freeze dividend payments are only one of several measures the company implements the meeting with what was described as a deteriorating market situation.
Some shareholders who sits on the so-called ADRs, are so cursed dividend stoppage that plaintiff Seadrill in the US, writes Finansavisen.
ADR evidence, or American Deposit Receipts, purchased in the period 10 July to 25 November and works in practice as a stock. Shareholders say they were promised dividend of four US dollars despite the turmoil in the oil industry and believes Seadrill has misled them.
Seadrill frees 2 billion in dividends freezing, thereby strengthening the company’s balance sheet instead.
Plaintiffs to cover their losses on Seadrill shares purchased in the period from July to November. During this period, the share price has plummeted from 235 to 85 million on the Oslo Stock Exchange.
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