Aker BP affirms dividend growth as Q1 profit in line
Model of Oil barrels are seen in front of AkerBP logo in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights , opens new tab
OSLO, May 7 (Reuters) - Aker BP (AKRBP.OL)
, opens new tab , Norway's second-largest listed oil company, said on Wednesday it was on track to raise its quarterly dividend payments this year by 5% compared with 2024, while reporting first-quarter profits in line with expectations.
Its earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to $2.80 billion in January-March from $2.79 billion a year earlier, in line with the $2.78 billion expected in a poll
, opens new tab of 18 analysts compiled by Aker BP.
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The company reported a cash flow from operations for the quarter of $2.11 billion, up from $1.46 billion one year earlier, broadly in line with analysts' predictions for $2.07 billion.
It announced a quarterly dividend of $0.63 per share and maintained its plan for paying $2.52 per share this year, up from $2.40 per share during 2024.
"We remain fully committed to delivering value to our shareholders through stable and predictable dividends," Aker BP's CEO Karl Johnny Hersvik said in a statement.
Reporting by Nerijus Adomaitis, editing by Terje Solsvik
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