Last week another company was added to the dividend machine: 71 shares of Statoil (STL.OL) were purchased for NOK 128.11 per share. The Norwegian Krone is currently cheap due to the low oil price and demand.
Yahoo Finance: “Statoil ASA, an integrated energy company, is engaged in the exploration, production, transportation, refining, and marketing of petroleum and petroleum-derived products in Norway and internationally. The company is involved in the exploration, development, and production of crude oil and natural gas, as well as extraction of natural gas liquids in 44 assets in the North Sea, the Norwegian Sea, and the Barents Sea. It also transports, markets, and trades crude oil, natural gas liquids, and refined products, including methanol; and operates, maintains, and develops gas processing plants. In addition, the company develops offshore wind-farms in Northwestern Europe; and develops solutions for carbon capture and storage plant located in Mongstad. It has proved reserves of approximately 5,600 million barrels of oil equivalent. The company was formerly known as StatoilHydro ASA and changed its name to Statoil ASA in November 2009. Statoil ASA was founded in 1972 and is headquartered in Stavanger, Norway.”
At the current dividend of NOK 1.80 per share per quarter STL.OL is expected to contribute NOK 511.20 to the dividend machine in 2015.
The portfolio page has been updated to reflect this addition.