Opera declares special dividend of 80c per ADS

Opera has approved a special dividend of 80c per ADS, each representing two ordinary shares of the company. Payment will be made to shareholders of record as of the close of business on January 30. Dividends to be paid to the holders of ADSs through the depositary bank, The Bank of New York Mellon, will be subject to the terms of the deposit agreement. The company expects the depositary bank to distribute dividends on or about February 9. The aggregate payment to be made in connection with this special dividend is approximately $71M, based on a total of 89,215,121 ADS equivalents outstanding as of December 31, 2022. The special dividend will be funded through existing working capital and proceeds from the sale of publicly traded marketable securities held by Opera as part of its treasury function, which saw record gains during the fourth quarter of 2022. The Company has today entered into an agreement to sell the vast majority of such securities to its pre-IPO shareholders for an aggregate consideration of $59M.