Aker Philadelphia Shipyard will host an Extraordinary General Meeting for final approval
The Board of Directors of Aker Philadelphia Shipyard ASA, a leading U.S. commercial shipyard, recently approved a proposal by management to distribute an interim dividend to its shareholders. An Extraordinary General Meeting has been scheduled for 2 September 2008 to allow all shareholders to approve the recommendation. Pending final approval, the Board recommends that the dividend be distributed in Q3 2008 for the 2007 accounting year with NOK 2.50 per share, in total NOK 25,413,262.50. It is intended that the shares of the company will be traded ex-dividend as of 3 September 2008.
Jim Miller, President and CEO of Aker Philadelphia Shipyard states "Our strong financial performance and belief in continued earnings growth were key drivers in making this recommendation. I am pleased that this proposal has been approved by the Board as it allows us to follow through on our commitment to return value to our shareholders."
In the coming days, an official notice and ballots for the extraordinary general meeting will be distributed.
The yard's regularly scheduled Second Quarter earnings call is scheduled for 12 August 2008 at 3 pm.
Please find enclosed the 2Q 2008 report and presentation.
Aker Philadelphia Shipyard is a leading U.S. commercial shipyard constructing vessels for operation in the Jones Act market. It possesses a state-of-the-art shipbuilding facility and has earned a reputation as the preferred provider of oceangoing merchant vessels with a track record of delivering quality ships. Aker Philadelphia Shipyard is a member of the Norwegian-based Aker family of global companies, leaders in global growth markets including energy technologies, energy resources, maritime technologies, seafood and marine biotechnology.
