The Røkke group will distribute billions in dividends to the owners. Røkkes TRG itself receives a dividend sprinkling of NOK 760 million.
Kjell Inge Røkkes Aker presents its quarterly report on Friday. Photo: Hanna Kristin Hjardar / E24 Published:
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Industrial group Aker, of which Kjell Inge Røkke is the largest owner, opens its accounting books on Friday.
The quarterly report shows that the value-adjusted equity ended at NOK 64.1 billion in the third quarter. This is the net worth of the company, and is calculated by taking the assets and deducting total liabilities. The values rose by 12.1 per cent from NOK 57.2 billion at the end of the second quarter, reports Aker.
Dividend sprinkle
Aker writes that the board has approved the payment of an additional dividend of NOK 15 per share in the fourth quarter.
This involves a dividend payment of NOK 1.1 billion to the shareholders.
Kjell Inge Røkke’s TRG Holding, with its share of just over 68 percent of Aker, will receive 760 million kroner in dividends.
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Aker states that the dividend payment means that the total dividend for the year rises to NOK 30 per share.
Aker had NOK 1.5 billion in cash at the end of the quarter after receiving NOK 777 million in dividends from its companies. Including unused loan arrangements, the total reserve was NOK 6.9 billion.
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In a letter to the shareholders, CEO Øyvind Eriksen points to the completion of the subsea collaboration between the companies Aker Solutions, SLB and Subsea 7, which has given Aker Solutions a payment of 700 million dollars.
Aker is also investing NOK 2.25 billion in the refinancing of the offshore shipping company Solstad, and Eriksen points to ambitions for quarterly dividends from Solstad as early as 2024.
The portfolio company AMSC distributes USD 170 million in extraordinary dividends after ship sales, of which Aker, as the largest owner, receives a large share.
Rise in oil
The increase in value in the quarter is mostly due to an increase for Aker BP and the oil service company Aker Solutions, while the decline in value in the renewables company Aker Horizons pulled in the opposite direction, according to Aker.
Aker is also a major owner in companies such as Aker Carbon Capture, the IT company Cognite and the krill company Aker BioMarine.
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The portfolio also consists of Aize, which works in industrial software, as well as Salmar Aker Ocean, which is jointly owned with Gustav Witzøe-dominated Salmar and operates in farming.
In Aker’s financial portfolio, values increased from NOK 12.2 to 12.9 billion in the quarter.
This portfolio consists of listed companies, property and other financial investments.
2023-11-03 06:00:27
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