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Governing party criticizes Statoil's shareholder dividends

At a time when Statoil is laying off 5,000 employees, the company should not be paying dividends to shareholders, including the Norwegian state, say two top politicians in the Norwegian government's ruling party according to Dagens Næringsliv. Statoil shares slide again.

Photo: Statoil, PR

Top politicians in Norway's governing party Høyre (The Conservative Party of Norway) are now criticizing management at the country's state-owned oil company Statoil for maintaining its shareholder dividends at a time when the company is also laying off 5,000 employees, reports Norwegian business daily Dagens Næringsliv.

Statoil has lost around USD 3.3 billion in the first three quarters of 2015, but the company maintains its plans to pay close to USD 2.5 billion in dividends to shareholders. The Norwegian government has budgeted with USD 1.7 billion in dividends from Statoil in its 2016 budget.

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