{"id":30573,"date":"2024-10-15T13:17:00","date_gmt":"2024-10-15T13:17:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4530361_AE30361_0"},"modified":"2024-10-15T13:17:00","modified_gmt":"2024-10-15T13:17:00","slug":"oci-announces-usd-3-4-billion-extraordinary-cash-distribution","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=30573","title":{"rendered":"OCI Announces USD 3.4 Billion Extraordinary Cash Distribution"},"content":{"rendered":"

AMSTERDAM<\/span><\/span>, Oct. 15, 2024<\/span><\/span> \/PRNewswire\/ — OCI Global (Euronext: OCI) (“OCI” or the “Company”) announces today that it will pay an interim extraordinary distribution of EUR 14.5<\/span> per share in aggregate (USD 3.4 billion<\/span>) following the successful completion of the sale of Iowa Fertilizer Company LLC (“IFCo”) to Koch AG & Energy Solutions in August, and the successful completion of the sale of its shares in Fertiglobe (ADX: FERTIGLB) to Abu Dhabi National Oil Company P.J.S.C. announced today.<\/p>\n

The distribution will be made pursuant to the resolutions of OCI’s general meeting adopted on 25 April 2024<\/span> and 21 August 2024<\/span> respectively, and the latter resolution being subject to a creditor opposition period expiring on 23 October 2024<\/span>.<\/p>\n

Payment of the extraordinary distribution is expected to take place on 14 November 2024, subject to no creditors having opposed the distribution. The ex-dividend date is expected to be 28 October and record date to be 29 October.<\/p>\n

The distribution will be made as a repayment of capital or, at the election of the shareholder, as a payment from the profit reserve and subject to Dutch Dividend Withholding Tax. Shareholders that do not make a choice will participate in the repayment of capital. A choice for one option implies an opt-out of the other option. <\/p>\n

The expected cumulative crystallization of approximately USD 11.6 billion<\/span> gross proceeds from OCI’s recently announced sales affords OCI significant flexibility to deliver on its capital allocation priorities, including deleveraging at a gross level as well as returning a meaningful quantum of capital to shareholders. The Company will communicate potential further extraordinary dividend distributions in due course.<\/p>\n

About<\/b> OCI <\/b>Global<\/b><\/p>\n

Learn more about OCI at www.oci-global.com<\/a>. You can also follow OCI on LinkedIn.<\/a><\/p>\n

Contact Details<\/b><\/p>\n

Sarah Rajani CFA<\/b>, Global Vice President Investor Relations and Communications
Email: sarah.rajani@oci-global.com<\/a>  <\/p>\n","protected":false},"excerpt":{"rendered":"

AMSTERDAM, Oct. 15, 2024 \/PRNewswire\/ — OCI Global (Euronext: OCI) (“OCI” or the “Company”) announces today that it will pay an interim extraordinary distribution of EUR 14.5 per share in aggregate (USD 3.4 billion) following the successful completion of the sale of Iowa Fertilizer Company LLC (“IFCo”) to Koch AG & Energy Solutions in August, and […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-30573","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"\nOCI Announces USD 3.4 Billion Extraordinary Cash Distribution - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=30573\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OCI Announces USD 3.4 Billion Extraordinary Cash Distribution - 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