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Stolt-Nielsen Limited Board Votes to Withdraw Recommendation of Final Dividend for 2019 in Response to Coronavirus Crisis

Written by Customer Service on . Posted in Public Companies.

LONDON, March 16, 2020 – The Board of Directors of Stolt-Nielsen Limited (Oslo Børs: SNI), acting in response to uncertainties created by the ongoing coronavirus pandemic, today voted to withdraw its previously announced recommendation of a final dividend for 2019 of $0.25 per Common Share, which was to be voted on at the Company’s Annual General Meeting of Shareholders scheduled for April 16, 2020 in Bermuda.Commenting on the decision, Niels G. Stolt-Nielsen, Chief Executive Officer, said, “Our earlier decision to recommend a final dividend for 2019, as announced on February 24, 2020, underscored the fundamentally solid position of the Company, which at the end of the first quarter of 2020 had over $500 million in available liquidity, and an increasingly promising market outlook for chemical tankers. However, while the coronavirus pandemic has had a modest impact on our markets to date, we believe this precautionary measure to cancel the final dividend for 2019 is a financially prudent decision, given current external circumstances.”For additional information please contact:Jens F. Grüner-Hegge
Chief Financial Officer
U.K. +44 (0) 20 7611 8985
j.gruner-hegge@stolt.comEllie Davison
Head of Corporate Communications
U.K. +44 (0) 20 7611 8926
e.davison@stolt.com  About Stolt-Nielsen Limited
Stolt-Nielsen (SNL or the ‘Company’) is a long-term investor and manager of businesses focused on opportunities in logistics, distribution and aquaculture. The Stolt-Nielsen portfolio consists of its three global bulk-liquid and chemicals logistics businesses – Stolt Tankers, Stolthaven Terminals and Stolt Tank Containers – Stolt Sea Farm and a number of LNG investments. Stolt-Nielsen Limited is listed on the Oslo Stock Exchange (Oslo Børs: SNI).This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

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