Norway-based company, Aker ASA, has reported a rise of 12.1% in its Net Asset Value (NAV) in Q3 2023, reaching NOK64.1 billion ($7.2 billion), up from NOK57.2 billion ($6.4 billion) at the end of Q2. The company also approved an additional Q4 cash dividend of NOK15.0 per share, resulting in a total annual dividend of NOK30.0 per share.
In a significant strategic shift, Aker sold AMSC's Jones Act Fleet during Q3, which was followed by a $170 million dividend payment. After the sale, Aker Solutions marked a historic milestone by closing the OneSubsea JV transaction. Aker's Eriksen sees OneSubsea as potentially becoming the leading subsea company globally.
Furthermore, Aker, Solstad Offshore, AMSC, and Solstad's secured lenders have agreed on a comprehensive refinancing for Solstad. This agreement is anticipated to create a strong industrial platform with minimal financial risk and a fleet of high-end vessels. The deal will also lead to a healthier balance sheet inclusive of NOK4 billion new equity.
To further diversify its upstream dividends, Aker has announced plans to initiate quarterly dividend payments from 2024. Atle Kigen and Fredrik Berge have been named as the points of contact for post-presentation inquiries relating to media and investor relations, respectively.
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