OSLO, Norway, May 8, 2007 (PRIME NEWSWIRE) -- The Annual General Meeting of Norsk Hydro ASA has today adopted the Board of Directors' proposal to distribute a dividend of NOK 5.00 per share. The dividend will be paid on 21 May 2007 to ordinary shareholders listed in the Norwegian Central Securities Depository as of 12 May. The shares, including the American Depository Receipts (ADR), will be traded ex-dividend from 9 May on all the stock exchanges where the Hydro share is listed.
In connection with the Annual General Meeting consideration of the Board of Directors' statements about salary and compensation for leading employees for the coming year, the chairman of the Board, Jan Reinas, said the existing stock option program for senior managers would not be continued. Other compensation programs will be considered.
The Annual General Meeting re-elected Svein Steen Thomassen as chairman of the nomination committee for a term of one year. Reier Soeberg, Siri Teigum and Westye Hoeegh were re-elected as members of the committee for a period of two years.
Certain statements contained in this announcement constitute "forward-looking information" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. In order to utilize the "safe harbors" within these provisions, Hydro is providing the following cautionary statement.
Certain statements included within this announcement contain (and oral communications made by or on behalf of Hydro may contain) forward-looking information, including, without limitation, those relating to (a) forecasts, projections and estimates, (b) statements of management's plans, objectives and strategies for Hydro, such as planned expansions, investments, drilling activity or other projects, (c) targeted production volumes and costs, capacities or rates, start-up costs, cost reductions and profit objectives, (d) various expectations about future developments in Hydro's markets, particularly prices, supply and demand and competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk management, as well as (i) statements preceded by "expected", "scheduled", "targeted", "planned", "proposed", "intended" or similar statements.
Although Hydro believes that the expectations reflected in such forward-looking statements are reasonable, these forward-looking statements are based on a number of assumptions and forecasts that, by their nature, involve risk and uncertainty. Various factors could cause Hydro's actual results to differ materially from those projected in a forward-looking statement or affect the extent to which a particular projection is realized. Factors that could cause these differences include, but are not limited to, world economic growth and other economic indicators, including rates of inflation and industrial production, trends in Hydro's key markets, and global oil and gas and aluminium supply and demand conditions. For a detailed description of factors that could cause Hydro's results to differ materially from those expressed or implied by such statements, please refer to the risk factors specified under "Risk review - Risk factors" on page 134 of Hydro's Annual Report 2006 (including Form 20-F) and subsequent filings on Form 6-K with the U.S. Securities and Exchange Commission.
No assurance can be given that such expectations will prove to have been correct. Hydro disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.