OSLO, NORWAY (23 July 2020) – Following the authorization from the Annual General Meeting on 12 May 2020, the Board of TGS NOPEC Geophysical Company ASA has resolved to distribute a quarterly dividend of the NOK equivalent of USD 0.125 per share (NOK 1.14 per share) in Q3 2020.
Key information relating to the cash dividend: • Dividend amount and declared currency: USD 0.125 per share (equivalent to NOK 1.14 per share) • Last trading day including right: 29 July 2020 • Ex-date: 30 July 2020 • Record date: 31 July 2020 • Payment date: 13 August 2020 • Date of approval: 22 July 2020
Company summary TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide. In addition to extensive global geophysical and geological data libraries that include multi-client seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, TGS also offers advanced processing and imaging services, interpretation products, and data integration solutions. For more information visit TGS online at www.tgs.com.
Forward Looking Statement All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to several risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data product at costs commensurate with profitability, as well as volatile market conditions, which have been exacerbated by the COVID-19 pandemic and the severe drop in oil prices. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.