Norsk Hydro ASA reports recurring developments across its aluminium and alumina operations, including production trends, raw-material and metal-price effects, recycling margins, power sourcing for Norwegian smelters, and updates tied to assets such as Alunorte and the HalZero test facility. Company news also covers quarterly results, dividends, annual general meeting resolutions, board elections, remuneration policies, long-term incentive share allocations, employee share programs, and primary-insider transactions.
Norsk Hydro will host its Capital Markets Day on November 27, 2024, at the Royal Garden Hotel in London. The event runs from 09:00 to 17:00 GMT and offers both in-person and virtual attendance options. Hydro's Executive Leadership Team will present on strategic priorities, market developments, and financial targets. The day will feature Q&A and roundtable sessions, facilitating direct interaction with the Hydro organization. A formal invitation for registration will be issued later.
On May 30, 2024, Espen Gundersen, a member of the Board of Directors of Norsk Hydro, purchased 6,800 shares of the company at NOK 69.34 per share.
This transaction brought his total holdings to 10,000 shares. The company disclosed this information in compliance with Section 5-12 of the Norwegian Securities Trading Act.
Norsk Hydro welcomed Eivind Kallevik as the new President and CEO, focusing on accelerating growth, value creation, and sustainability. The company's strategy aims at leading the green aluminium transition with a strong emphasis on low-carbon and recycled solutions. Hydro's 2030 strategy includes growth in recycling, extrusions, and energy solutions to support decarbonization. The company remains committed to safety, cost control, and profitability to achieve its long-term objectives amid challenging market conditions.
Hydro's new President and CEO, Eivind Kallevik, made changes to the Executive Leadership Team, with Hanne Karine Simensen becoming EVP of Hydro Aluminium Metal, Kari Ekelund Thørud becoming EVP of Hydro Energy, and Trond Olaf Christophersen taking on the role of CFO. The company also increased female representation in leadership to 55%.
Norsk Hydro ASA announced that their shares will be traded ex-dividend of NOK 2.50 as of May 8, 2024. This news impacts investors who hold shares on this date, as they will not be entitled to the dividend payment. The company's investor contact is Martine Rambøl Hagen, reachable at +47 91708918 or Martine.Rambol.Hagen@hydro.com.
The Annual General Meeting of Norsk Hydro ASA elected new and re-elected existing members to the Board of Directors. Rune Bjerke was elected as Chair and Kristin Fejerskov Kragseth as Deputy Chair. The Board now consists of 11 members including shareholder elected representatives serving up to two years.
The Annual General Meeting (AGM) of Norsk Hydro ASA was held on May 7, 2024, as a hybrid meeting. All agenda proposals were adopted, including a dividend distribution of NOK 2.50 per share. It also resolved a capital reduction by canceling own shares and redeeming shares held by the Norwegian State. The dividend will be paid on May 21, 2024, to shareholders as of May 7, 2024. The minutes of the AGM are available on hydro.com/generalmeeting.
Summary not available.
Summary not available.
Summary not available.