OSLO,
Norway, Dec. 12, 2023 /PRNewswire/ -- Opera
Limited (NASDAQ: OPRA) ("Opera"), one of the world's major
browser developers and a leading internet consumer brand, today
announced that its Board of Directors has declared its
upcoming semi-annual cash dividend for holders of Opera's
ordinary shares as well as American Depositary Shares
("ADSs"), each representing two ordinary shares.
Opera's next semi-annual dividend under its recurring dividend
program, which was announced in June
2023, will be $0.40 per ADS.
Payment will be made to shareholders of record as of the close of
business on January 3, 2024 (the
"Record Date"). Dividends to be paid to the holders of ADSs
through the depositary bank, The Bank of New York Mellon, will be
subject to the terms of the deposit agreement. The Company expects
the depositary bank to distribute dividends on or about
January 9, 2024.
The aggregate amount of this initial dividend is approximately
$35 million, based on a total of 87.5
million ADS equivalents outstanding as of November 30, 2023. Opera's cash expense will,
however, be limited to approximately $9.9
million, which relates to holders of ADSs only. The
remaining $25.1 million that relates
to ordinary shares and would otherwise be payable to Opera's
majority shareholder, Kunlun Tech Limited ("Kunlun"), will
be offset against Opera's receivable from sale of investment, due
from Kunlun following the sale of Opera's former stake in Star
Group Interactive Inc. ("StarX"). Future dividend payments
on Kunlun's ordinary shares in Opera will also be offset until the
StarX receivable with interest is fully satisfied.
Safe Harbor Statement
This press release contains statements of a forward-looking
nature. These statements, including statements relating to the
Company's future financial and operating results, are made under
the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. You can identify these
forward-looking statements by terminology such as "will," "may,"
"expect," "believe," "anticipate," "intend," "aim," "estimate,"
"seek," "plan," "potential," "continue," "ongoing," "target,"
"guidance," "is/are likely to," "future" and similar statements.
Among other things, management's quotations and the Business
outlook section contain forward-looking statements. The Company may
also make forward-looking statements in its periodic reports to the
U.S. Securities and Exchange Commission (the "SEC"), in
press releases and other written materials and in oral statements
made by its officers, directors or employees to third parties.
These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations,
assumptions, estimates and projections about the Company and the
industry in which it operates. Potential risks and uncertainties
include, but are not limited to, those relating to: the duration
and development of international conflicts, and related economic
sanctions, as well as resulting changes in consumer behaviors; the
outcome of regulatory processes or litigation; the Company and its
goals and strategies; expected development and launch, and market
acceptance, of products and services; Company's expectations
regarding demand for and market acceptance of its brands, platforms
and services; Company's expectations regarding growth in its user
base, user retention and level of engagement; changes in consumer
behavior, for example from increased adoption of AI powered
services; Company's ability to attract, retain and monetize users;
Company's ability to continue to develop new technologies, products
and services and/or upgrade its existing technologies, products and
services; quarterly variations in Company's operating results
caused by factors beyond its control; and global macroeconomic
conditions and their potential impact in the markets in which the
Company has business. All information provided in this press
release is as of the date hereof and is based on assumptions that
the Company believes to be reasonable as of this date, and it
undertakes no obligation to update any forward-looking statements
to reflect subsequent occurring events or circumstances, or changes
in its expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that its expectations will turn out to be correct, and investors
are cautioned that actual results may differ materially from the
anticipated results. Further information regarding risks and
uncertainties faced by Opera is included in the Company's filings
with the SEC, including its annual reports on Form 20-F.
About Opera
Opera is a user-centric and innovative software company focused
on enabling the best possible internet browsing experience across
all devices. Hundreds of millions use the Opera web browsers for
their unique and secure features on their mobile phones and desktop
computers. Founded in 1995, and headquartered in Oslo, Norway, Opera is a public company listed
on the Nasdaq stock exchange under the ticker symbol "OPRA".
Download the Opera web browser and access other Opera products
from opera.com. Learn more about Opera
at investor.opera.com and on X @InvestorOpera.
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SOURCE Opera Limited