OCI NV, Amsterdam, on July 11 announced that it proposes a semi-annual cash distribution with respect to the first half of 2022 of €3.55 per share (or in total approximately about $760 million at current exchange rates, consisting of a $200 million base return of capital and a variable element). It will be paid to its shareholders in October.
In line with OCI’s guidance given during its first-quarter results publication, this is significantly higher than the semi-annual cash distribution of €1.45 per share with respect to the second-half of 2021 period, which was paid in June 2022.
OCI reported a 246% increase in adjusted net income attributable to shareholders of the company to $354.2 million for the first quarter ended March 31, 2022, up from the prior year $102.4 million (GM May 13, p. 28). Diluted earnings per share were $1.688, versus $0.488 a year ago.