Soco International PLC Dividend Declaration (3846K)
21 September 2016 - 4:01PM
UK Regulatory
TIDMSIA
RNS Number : 3846K
Soco International PLC
21 September 2016
SOCO International plc
("SOCO" or the "Company")
DIVIDEND DECLARATION
In the Company's Interim Results announcement on 3 August 2016,
the Company indicated an additional distribution to shareholders
would be considered later in 2H2016 within the parameters of the
Board's previously stated approach to capital discipline. This
approach includes retaining a strong balance sheet under all
reasonable oil price scenarios and flexibility to invest
organically and inorganically in attractive risk/return profile
projects.
Following due consideration, the Board today announces an
interim dividend of 2 pence per ordinary share, amounting to
approximately $9m.
SOCO remains committed to its strategy of delivering sustainable
cash returns to shareholders. This is underpinned by a disciplined
approach to capital expenditure, and careful analysis and
minimisation of exposure to the industry risks and
uncertainties.
SOCO's track record of effective management of its asset and
capital base has enabled it to return over $440m to shareholders
over the last ten years through dividends, capital returns and
share buybacks. This continued in 1H2016, during which SOCO
returned $9.4m to shareholders via a final dividend for 2015.
The key dates for this interim dividend are as follows:
Ex-Dividend Date * 29 September 2016
Record Date ** 30 September 2016
Payment Date 21 October 2016
* The sellers of any shares sold on or after the ex-dividend
date will retain the right to receive the interim dividend.
** Only shareholders on the SOCO International plc share
register on the record date will receive the interim dividend.
The relevant accounts are the Company's last annual accounts
which are available from the Registrar of Companies and are also
available to view and download from the Company's website at
www.socointernational.com and from the National Storage Mechanism's
website at http://www.morningstar.co.uk/uk/NSM.
ENQUIRIES:
SOCO International plc
Roger Cagle, Deputy Chief Executive and Chief Financial
Officer
Tel: 020 7747 2000
Bell Pottinger
Nick Lambert
Elizabeth Snow
Tel: 020 3772 2500
NOTES TO EDITORS
SOCO is an international oil and gas exploration and production
company, headquartered in London and traded on the London Stock
Exchange. The Company has field development and production
interests in Vietnam and exploration and appraisal interests in the
Republic of Congo (Brazzaville) and Angola.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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