Welcome to our dedicated page for Norsk Hydro A S news (Ticker: NHYDY), a resource for investors and traders seeking the latest updates and insights on Norsk Hydro A S stock.
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.
Trond Olaf Christophersen has been appointed as the Executive Vice President for Corporate Development at Hydro, effective November 1. He succeeds Helena Nonka, who is leaving for new opportunities. Christophersen, with Hydro since 1997, previously served as Senior Vice President and Head of Recycling in Aluminium Metal, and has held various leadership roles across Hydro’s operations. Additionally, Therese Rød Holm has been named Executive Vice President for Communication & Public Affairs, effective October 1, continuing her previous role.
Hydro is partially curtailing aluminium production at its Karmøy and Husnes plants in Norway due to reduced market demand in Europe. This decision results in a 110,000-130,000 tonnes reduction in annual production capacity. The company cites market uncertainty and a drop in demand leading to stock accumulation as primary reasons. Despite the short-term decline, Hydro remains optimistic about long-term demand for aluminium, particularly in the green transition, and plans to utilize this time for necessary plant investments.
Hydro plans to release its third quarter 2022 results on October 25, 2022, at 07:00 CEST. The quarterly report and presentation will be accessible on hydro.com.
Additionally, Hydro will hold an in-person presentation at 08:30 CEST and a virtual Q&A session at 11:00 CEST on the same day.
Helena Nonka, Executive VP of Corporate Development at Norsk Hydro, sold 1,528 shares at NOK 59.58 each on September 23, 2022. These shares were allocated to her through the Long-Term Incentive program in May 2022. Nonka plans to leave the company, with her final day being September 30, 2022. The proceeds from the sale will benefit Norsk Hydro ASA. This information complies with the Norwegian Securities Trading Act disclosures.
Norsk Hydro ASA's Board of Directors announced a share buyback program aimed at enhancing shareholder value by reducing share capital. The program involves repurchasing up to 100 million shares for a total of NOK 2,000 million, representing about 1.6% of the company's current market value. Set to begin on September 26, 2022, and conclude by March 29, 2023, the buyback will redeem shares on a pro-rata basis for the Norwegian State. The share price for repurchase will range between NOK 20 and NOK 150, managed by DNB Markets under the EU Market Abuse Regulation.
Norsk Hydro ASA's shares are now trading ex-dividend of NOK 1.45, effective from September 21, 2022. Investors should note this adjustment, as it will impact the share price going forward. This dividend indicates the company's commitment to returning value to its shareholders. The payment details and any further inquiries can be directed to the investor contact, Line Haugetraa.
Vianode, jointly owned by Elkem, Hydro, and Altor, announces a NOK 2 billion investment in its first industrial plant for sustainable battery materials in Herøya, Norway. This facility will produce anode graphite for approximately 20,000 electric vehicles (EVs) annually by 2024 and aims to address Europe's impending graphite material shortage by 2030. Vianode's eco-friendly materials will slash CO2 emissions by up to 90%, enhancing battery performance. The company plans to recruit around 100 new employees by the end of 2023, potentially increasing to 300 by 2026.
The Extraordinary General Meeting of Norsk Hydro ASA took place on September 20, 2022, where all agenda proposals received approval.
Notably, a dividend of NOK 1.45 per share was approved for distribution, with payment scheduled for September 30, 2022. Shareholders registered as of September 20, 2022, will receive this dividend, and the shares will trade ex-dividend starting September 21, 2022.
Minutes from the meeting are available at www.hydro.com/generalmeeting.
Norsk Hydro ASA announced a press release detailing upcoming disclosures as per the Norwegian Securities Trading Act. The company is committed to adhering to transparency and regulatory compliance, aligning with financial reporting standards. The press release includes an attachment link for further detailed information regarding the company’s financial position and assessments. Investors are encouraged to review the document for pertinent financial insights and developments concerning Norsk Hydro.
Norsk Hydro ASA announces an extraordinary general meeting on September 20, 2022, at 09:30 (CEST). The meeting will be held electronically, allowing shareholders to participate and vote in real-time, in advance, or by proxy. A guide for electronic participation is available on their website. All relevant documents related to the meeting, including the notice and voting forms, can be accessed online. This information is disclosed under the requirements of the Norwegian Securities Trading Act.