Borr Drilling Limited - Dividend declaration and key information relating to the cash distribution for the first quarter 2024

Rhea-AI Summary

Borr Drilling (NYSE: BORR, OSE: BORR) announced a cash distribution of US$0.10 per share for Q1 2024. The Board approved this on May 22, 2024.

Key dates are: last day including right on OSE is May 30, 2024, and on NYSE is May 31, 2024. Ex-dividend dates are May 31, 2024 (OSE) and June 3, 2024 (NYSE). Record date for both exchanges is June 3, 2024. Payment date is expected around June 17, 2024, with distributions to Euronext VPS shareholders around June 20, 2024.

This announcement follows the implementation of the Central Securities Depository Regulation in Norway, impacting settlement bases of NYSE (T+1) and OSE (T+2).

Positive

• Cash distribution of US$0.10 per share for Q1 2024 approved.
• Board approval date: May 22, 2024.
• Payment date expected around June 17, 2024.
• Implementation of CSDR noted, indicating regulatory compliance.

Negative

• Different ex-dividend dates between NYSE and OSE may cause confusion.
• CSDR implementation may delay payment to Euronext VPS shareholders to June 20, 2024.

HAMILTON, Bermuda, May 23, 2024 /PRNewswire/ -- Borr Drilling Limited (NYSE: BORR) and (OSE: BORR) today announces that the Company's Board of Directors has approved a cash distribution of paid-in capital of US$0.10 per share for the first quarter of 2024.

Note to shareholders registered in Euronext VPS, the Norwegian Central Security Depository:

Due to implementation of the Central Securities Depository Regulation (CSDR) in Norway, please note the information regarding the payment date for the shares registered in Euronext VPS below.

Effective as of May 28, 2024, the New York Stock Exchange ("NYSE") will settle its trades on a T+1 basis, while the Oslo Stock Exchange ("OSE") will continue to settle its trades on a T+2 basis. As a result, there will be different ex-dividend dates between the two exchanges, as set out below.

Key information:

Distribution amount: $0.10 per share

Declared currency: USD. Dividends payable to shares registered with Euronext VPS will be distributed in NOK with fixing date on 17 June, 2024.

Date of approval: 22 May, 2024

Last day including right OSE: 30 May, 2024

Last day including right NYSE: 31 May, 2024

Ex-date OSE: 31 May, 2024

Ex-date NYSE: 3 June, 2024

Record date OSE/NYSE: 3 June, 2024

Payment date: On or about 17 June, 2024.

Due to the implementation of CSDR in Norway, distributions payable on shares registered with Euronext VPS is expected to be distributed to Euronext VPS shareholders on or about 20 June, 2024.

This information is published in accordance with the requirements of the Continuing Obligations.

CONTACT:

Questions should be directed to: Magnus Vaaler, CFO, +44 1224 289208

 

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/borr-drilling-limited/r/borr-drilling-limited---dividend-declaration-and-key-information-relating-to-the-cash-distribution-f,c3986509

 

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SOURCE Borr Drilling Limited

FAQ

What is the cash distribution amount for Borr Drilling's Q1 2024?

The cash distribution amount for Borr Drilling's Q1 2024 is US$0.10 per share.

When was the cash distribution for Borr Drilling Q1 2024 approved?

The cash distribution for Borr Drilling Q1 2024 was approved on May 22, 2024.

What are the ex-dividend dates for Borr Drilling's Q1 2024 distribution?

The ex-dividend dates are May 31, 2024, for OSE and June 3, 2024, for NYSE.

When is the payment date for Borr Drilling's Q1 2024 cash distribution?

The payment date is expected around June 17, 2024.

How does the CSDR implementation affect Borr Drilling's Q1 2024 distribution?

CSDR implementation may delay the distribution payment to Euronext VPS shareholders to around June 20, 2024.