- Statoil (STO) says 43% of shareholders chose to take their Q4 dividend in shares instead of cash, reducing its cash dividend payout by $292M.
- To free up cash, STO had offered shareholders the chance to take shares instead of a cash dividend in Q4 at a 5% discount to market; some analysts had predicted that a majority of shareholders would choose the scrip dividend, given the discount.
- STO says nearly 18.3M new shares would be issued and delivered to shareholders on June 24.
- STO +4.4% premarket.