SNI.OL

Stolt-Nielsen Limited (SNL) intends to make regular distributions from the Company's profits to shareholders in the form of dividends. Whilst it is the Company's objective to generate competitive returns to its shareholders, the level of any dividend is determined based on a number of variables including current earnings, the strength of the Company's balance sheet, market prospects, current and future capital expenditure commitments, investment opportunities, and debt service, as well as restrictions to pay dividends included in the Group's credit facilities. The Board considers the payment of dividends and makes its recommendation twice a year, typically at its November meeting for an interim dividend and in February with respect to a final dividend. The interim dividend is paid in mid-December unless otherwise announced. At the Annual General Meeting (AGM) held in April, following the publication of the Company's audited annual accounts, the shareholders vote to approve the annual dividend as recommended by the Board in February. If approved, the final dividend is typically paid in May. A dividend payment relates to each common share, so the amount shareholders receive depends on the number of common shares owned. SNL can give no assurances that a dividend will be recommended or declared in any given year, but any dividend payment will be subject to the considerations listed above.