Dividend and Share Repurchase

Dividend Policy

It is the ambition of TGS to pay a cash dividend that is in line with its long-term underlying cash flow. When deciding the dividend amount, the TGS Board of Directors will consider expected cash flow, investment plans, financing requirements and a level of financial flexibility that is appropriate for the TGS business model.

In addition to paying a cash dividend, TGS may buy back its shares as part of its plan to distribute capital to shareholders.

Authorizations

At the Annual General Meeting held on 10 May 2022, shareholders approved the Board’s proposal to authorize the Board to distribute quarterly dividends and make group contributions to entities within the Group (Norwegian: konsernbidrag) on the basis of the financial statements for 2022. The Board shall, when using the authorization in relation to the distribution of quarterly dividends, pass its decision in accordance with the Company's approved dividend policy. The authorization shall be valid until the Company's annual general meeting in 2024, but no later than 30 June 2024.

Further information is available in the Minutes of Annual General Meeting 2023.

Quarterly Dividend

Since 2016, TGS has paid dividends on a quarterly basis in accordance with shareholder approvals. The aim is to maintain a stable quarterly dividend through the year, but the actual level paid will be subject to continuous evaluation of market outlook, cash flow expectations, and balance sheet development.

The ex-dividend date will normally be seven days after the announcement of the dividend, in connection with the release of quarterly financial statements, with the payment date 14 days after the ex-dividend date.

Dividend History