OSLO (Thomson Financial) - Golar LNG Ltd said it plans to increase its dividend capacity in the coming quarters, after cutting its stake in South Korean shipbuilder Korea Line from 20 pct to 11 pct, earning itself a book profit of 29 mln usd.
The Norwegian liquified natural gas storage and transportation specialist said the plans follow a transaction which saw it sell 1 mln Korea Line shares for a net price of 71 mln usd, giving it a profit of about 29 mln based upon the most recent book value of the investment.
After this sale Golar will hold 1.1 mln shares in Korea Line, or approximately 11 pct of the firm's issued share capital. alastair.reed@thomson.com ar/cml COPYRIGHT Copyright AFX News Limited 2007. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.