Norsk Hydro A S Stock Price, News & Analysis

Norsk Hydro ASA's Corporate Assembly met on May 25, 2021, to approve the remuneration for the Board of Directors for the fiscal year 2021. The proposed remuneration reflects an approximate 3% increase. Key figures include the Chair's compensation rising from 686,000 to 707,000 NOK and Deputy Chair's from 413,000 to 426,000 NOK. Travel compensation for board members living outside Norway will now be 30,000 NOK per meeting attended. This adjustment aligns with the company's commitment to governance and stakeholder engagement.

Norsk Hydro ASA's shares will trade ex-dividend of NOK 1.25 starting today, May 7, 2021. This dividend payment reflects the company's commitment to returning value to its shareholders and may influence investor sentiment positively.

Norsk Hydro ASA conducted its Annual General Meeting virtually on May 6, 2021, due to Covid-19. The meeting adopted all proposals, which included a dividend distribution of NOK 1.25 per share. This dividend is set to be paid on May 19, 2021, to shareholders recorded by May 6 and listed by May 10. The stock will trade ex-dividend starting May 7. Detailed minutes from the meeting are available on the company’s website.

Norsk Hydro ASA has received the necessary approvals to sell its Hydro Rolling business to KPS Capital Partners, as announced on March 5, 2021. The transaction is set to close in Q2 2021, marking a significant step in Hydro's strategic initiatives. This sale is expected to streamline operations and focus on core areas for future growth.

Rune Bjerke, a Board Member of Norsk Hydro ASA, acquired 5,500 shares on April 27, 2021, at a price of NOK 53.85 per share. His total holdings now amount to 20,500 shares. This transaction falls under the disclosure requirements of Section 5-12 of the Norwegian Securities Trading Act.

Norsk Hydro ASA reported a strong first-quarter underlying EBITDA of NOK 5,182 million, a significant increase from NOK 3,810 million year-over-year. The growth is attributed to higher demand for renewable energy and aluminum products, with record results in Hydro Energy and Hydro Extrusions. Despite challenges from higher raw material costs and negative currency effects, the company anticipates a largely balanced primary aluminum market for 2021. Hydro is also advancing its strategic goals, including a fuel-switch project at Alunorte and exploring hydrogen initiatives for future growth.

Hydro will release its first quarter results for 2021 on April 27, 2021, at 07:00 CEST. An audio webcast and conference call will follow at 08:30 CEST, hosted by CEO Hilde Merete Aasheim and CFO Pål Kildemo. Due to Covid-19, there will be no in-person presentation. Participants can join the conference call using a 'Click to Join' link or dial-in with various international numbers. A Q&A session will be conducted after the presentation. Further details can be found on www.hydro.com.

Hydro will release its first quarter results for 2021 on April 27, 2021, at 07:00 CEST (01:00 EDT). The quarterly report and presentation will be available at www.hydro.com. A conference call with President & CEO Hilde Merete Aasheim and EVP & CFO Pål Kildemo will follow at 08:30 CEST, featuring an audio webcast and a Q&A session. Due to COVID-19, there will be no in-person presentation. Participants can join via a “Click to Join” link or dial-in numbers provided in the release.

The Annual General Meeting of Norsk Hydro ASA is scheduled for Thursday, 6 May 2021, at 10:00 (CEST). This will be a digital meeting with electronic voting due to Covid-19 precautions. Participants can vote in advance or attend via proxy. Detailed information on the agenda and relevant documents is available at www.hydro.com/generalmeeting. Interested investors can contact Line Haugetraa for further inquiries. This announcement complies with the Norwegian Securities Trading Act's disclosure requirements.