Oslo, 2nd November 2016, Ocean Yield ASA ("Ocean Yield" or the "Company") announces results for the third quarter ending 30th September 2016.
-The Board of Directors has declared a dividend of USD 0.1775 per share for Q3 2016. This is an increase of 0.50 cents per share compared with the previous quarter. On an annualized basis, the dividend equals USD 0.71 per share. Based on the closing share price as of 2nd November 2016, this is a dividend yield of 8.4% p.a. This is the 12th consecutive dividend increase since the IPO of Ocean Yield in July 2013.
-EBITDA was USD 68.7 million for the third quarter 2016 compared with USD 56.4 million for the third quarter of 2015. Adjusted for finance lease effects, EBITDA was USD 75.6 million in Q3 2016 compared to USD 59.6 million in Q3 2015.
-Net profit before tax was USD 39.7 million for the third quarter 2016 compared with USD 22.7 million for the third quarter 2015.
-Net profit after tax was USD 32.7 million for the third quarter 2016 compared with USD 22.7 million for the third quarter of 2015. A tax expense of USD 7.0 million was recorded in the quarter. This relates to changes in deferred tax and has no cash effect.
-Net profit after tax, adjusted for non-recurring items, currency fluctuations, mark-to-market of derivatives and changes to deferred tax, was USD 33.4 million compared with USD 28.0 million in Q3 2015.
The dividend will be paid on or about 17th November 2016 to shareholders as of 4th November 2016 registered with the Norwegian Central Securities Depository (the "VPS") as of 8th November 2016 (the "Record Date"). The ex-dividend date will be 7th November 2016.
For the full report visit : www.ocy.no/ir
Lars Solbakken, Chief Executive Officer +47 24 13 01 90 Eirik Eide, Chief Financial Officer +47 24 13 01 91
Investor relations contact: Marius Magelie, Senior Vice President Finance & IR +47 24 13 01 82
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.