Euronav NV, a leading tanker company, has provided a business and dividend update following recent board and management changes. The Supervisory Board has approved a dividend distribution of USD 0.57 per share for Q3 2023, reflecting positive market conditions in the large crude tanker sector. Following a share purchase agreement with Famatown/Frontline, CMB now holds 49% of Euronav's share capital, triggering a mandatory takeover offer at USD 18.43 per share. Euronav's future strategy focuses on fleet diversification, decarbonization, and optimization. The core of operations remains in crude tankers, with positive market prospects for 2024. Euronav management plans to balance growth investments in the energy transition while providing cash distributions to shareholders. An investor engagement program is expected in Q1 2024. Trading updates for Q4 2023 indicate strong performance in the VLCC and Suezmax fleets. Euronav anticipates an active role in the energy transition, with an emphasis on value creation and shareholder rewards.

SOURCE: GOOGLE