Shipping and oil giant A.P. Moller-Maersk will deliver a $6.6 billion windfall in dividends this year to shareholders after it sells its 20 percent stake in Denmark's biggest bank, Danske.
The parent company of the world's largest container shipping company said it would sell 15 percent to its controlling shareholder, the Moller family foundation, noting the deal guaranteed Danske remained in Danish hands. Maersk Group will offer the remaining 5 percent to other existing Maersk shareholders.
The corporation didn’t say how much the foundation would pay for the 15 percent Danske stake, but said it would correspond to $5.5 billion. The $5.5 billion will go to shareholders at about 1,569 crowns ($238) a share, Maersk said, and it also proposed dividends of $1.1 billion for the 2014 business year, or $300 a share.
Maersk's shares increased 6.5 percent by 4:00 a.m. Wednesday.
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Photo credit: Reuters/Michael Kooren
"It is to ensure the long-term ownership of Danske Bank and ensure the bank's roots in Danish society," said Ana Uggle, the granddaughter of Maersk's founder and head of the foundation.
For more of the Reuters story: www.reuters.com
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