Ocean Yield ASA: Q4 2016 Financial Report
Oslo, 16th February 2017, Ocean Yield ASA ("Ocean Yield" or the
"Company") announces results for the fourth quarter and preliminary
results for the year ending 31st December 2016.
-The Board of Directors has declared a dividend of USD 0.1825
per share for Q4 2016. This is an increase of 0.50 cents per share
compared with the previous quarter. On an annualized basis, the
dividend equals USD 0.73 per share. Based on the closing share price
as of 16th February 2017, this is a dividend yield of 9.6% p.a. This
is the 13th consecutive increase in dividends since the IPO of Ocean
Yield in July 2013.
-EBITDA was USD 74.4 million in Q4 2016 compared with USD
56.6 million in Q4 2015. Adjusted for finance lease effects, EBITDA
was USD 82.8 million in Q4 2016 compared with USD 59.7 million in Q4
-Net profit before tax was USD 3.1 million in Q4 2016
compared with USD 3.8 million in Q4 2015. An impairment charge of
USD 35.6 million relating to the vessel Lewek Connector has been
recognized in Q4 2016.
-Net profit after tax was USD 0.7 million in Q4 2016 compared
with USD 28.3 million in Q4 of 2015.
-Net profit after tax, adjusted for non-recurring items,
currency fluctuations, mark-to-market of derivatives and changes to
deferred tax, was USD 36.9 million in Q4 2016 compared with USD 27.6
million in Q4 2015.
The dividend will be paid on or about 2nd March 2017 to shareholders
as of 20th February 2017 registered with the Norwegian Central
Securities Depository (the "VPS") as of 22nd February 2017 (the
"Record Date"). The ex-dividend date will be 21st February 2017.
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.