Norsk Hydro A S Stock Price, News & Analysis

Hydro's adjusted EBITDA for Q2 2022 reached NOK 11,594 million, a significant increase from NOK 6,598 million in Q2 2021, driven by strong demand and record results across Aluminium Metal and Extrusions. Despite this, the company faces increasing market uncertainty due to high energy prices and a softening aluminium market. Hydro plans an additional cash dividend of NOK 3 billion and a NOK 2 billion share buyback program. The company aims to double sales of greener aluminium products by 2025, aligning with its decarbonization roadmap.

Hydro's second quarter results for 2022 will be announced on July 22, 2022, at 07:00 CEST. The report and presentation slides will be accessible on www.hydro.com at that time. Pål Kildemo, Executive Vice President and CFO, will host an audio webcast and conference call at 08:30 CEST, with a Q&A session following the presentation. Note that there will be no physical presentation or press conference, and participants can register to ask questions during the call.

Helena Nonka, the Executive Vice President of Corporate Development, is leaving Hydro, effective September 30. The company has initiated the search for her successor. Nonka's departure may raise concerns regarding leadership stability and future strategic direction. Investors will be closely monitoring the transition process to ensure that it does not adversely affect Hydro's operational focus or market perception.

Hydro will release its second quarter results for 2022 on July 22 at 07:00 CET. The results, along with presentation slides, will be accessible on www.hydro.com. Executive Vice President and CFO Pål Kildemo will conduct an audio webcast and conference call at 08:30 CET on the same day. There will be no physical presentation or press conference. A Q&A session will follow the presentation, and interested participants must register to join the conference call.

Hydro Rein and Macquarie Asset Management’s Green Investment Group have established a joint venture to develop the Feijão project, a 586 MW combined wind and solar power initiative in Brazil. This project will provide all necessary electricity for Hydro’s Paragominas bauxite mine and help reduce carbon emissions from the Alunorte alumina refinery. The investment for the wind farm is estimated at USD 700 million, with Hydro Rein holding a 49.9% stake. The project is crucial for Hydro's goal of a 30% CO2 reduction by 2030.

Norsk Hydro ASA's shares will trade ex-dividend starting May 11, 2022, with a dividend of NOK 5.40. This announcement highlights the company's ongoing commitment to returning value to shareholders. Following this date, investors will not be eligible for the upcoming dividend payment, reflecting the company's financial strategies aimed at sustaining shareholder returns.

Norsk Hydro ASA announced the election of new Board members on May 10, 2022. Kristin Fejerskov Kragseth, Petra Einarsson, and Philip Graham New were elected, while Dag Mejdell, Marianne Wiinholt, Rune Bjerke, and Peter Kukielski were re-elected for up to two years. The Board's new leadership includes Dag Mejdell as Chair and Rune Bjerke as Deputy Chair. The Board now comprises 11 members, including four employee representatives, and all shareholder-elected members will serve until the Annual General Meeting in 2024.

Norsk Hydro ASA held its Annual General Meeting (AGM) on May 10, 2022, where all proposed agenda items were adopted. Key decisions included a dividend distribution of NOK 5.40 per share, effective May 20, 2022, for shareholders as of May 10, 2022. The AGM also saw the dissolution of the Corporate Assembly and an increase in the number of employee representatives on the Board from three to four. Ex-dividend trading begins on May 11, 2022. The minutes from the meeting are available on the company’s website.