Kværner ASA: The Board of Directors approves the distribution of dividend of NOK 0.64 per share

16 July 2014 - In the Board meeting on 15 July 2014, the Board of Directors has in line with the company's dividend policy and pursuant to the power of attorney to approve the distribution of dividend granted to the Board by the Annual General Meeting on 10 April 2014, resolved to approve a semi-annual dividend of NOK 0.64 per share. The dividend payment is expected to take place on 24 October 2014 to shareholders of record as per 13 October 2014. The shares will be traded exclusive dividend from and including 14 October 2014.

ENDS

For further information, please contact:

Investor relations:
Ingrid Aarsnes, SVP Investor Relations & Communication, Kvaerner, Tel: +47 67 59 50 46, Mob: +47 950 38 364

Media:
Torbjørn Andersen, VP Communications, Kvaerner, Tel: +47 67 51 31 44, Mob: +47 928 85 542

About Kvaerner:
Kvaerner is a leading provider of engineering, procurement and construction (EPC) services, and delivers offshore installations and onshore plants for upstream oil and gas production around the world. Kværner ASA, through its subsidiaries and affiliates ("Kvaerner"), is an international contractor and preferred partner for oil and gas operators and other engineering and fabrication contractors. Kvaerner and its approximately 2 800 HSSE-focused and experienced employees are recognised for delivering some of the world's most amazing and demanding projects.

In 2013, the Kvaerner group had consolidated annual revenues of close to NOK 13 billion and the company reported an order backlog at 30 June 2014 of more than NOK 21.5 billion. Kvaerner is publicly listed with the ticker "KVAER" at the Oslo Stock Exchange. For further information, please visit www.kvaerner.com.

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This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.