Brief: Torm announces new distribution policy

Torm

12/05/2016 07:50

May 12 (Reuters) - Torm PLC  TRMDa.CO : 
    * Torm announces new distribution policy 
    * Distribution policy opens for dividends and/or share repurchases 
    * Anticipates having one fixed distribution in September 2016 of $25.0 million 
    * Intends to semi-annually distribute 25 percent to 50 percent of net income 
    * Will also consider share repurchases 
    * Says has authorization to acquire treasury A shares equivalent to total of 10 percent of 
company's share capital 
    * During may 2016, Torm will acquire up to 4.1 percent of A shares in Torm A/S 
 
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