Dividend of NOK 11 Approved by the Annual General Meeting

Dividend of NOK 11 Approved by the Annual General Meeting 


OSLO, Norway, May 12  /PRNewswire-FirstCall/ -- The Annual General Meeting of
Norsk Hydro ASA has 11 May adopted the Board's proposal to distribute a
dividend of NOK 11.00 per share. The dividend will be paid on 28 May 2003 to
shareholders who are listed in the company's register as of 11 May. Shares will
be traded ex-dividend from 12 May, while American Depositary Receipts (ADR)
have been traded ex-dividend since 7 May.

The Annual General Meeting also authorised the Board to buy back shares within
the next 18 months with the intention of subsequent cancellation. The
authorisation is limited to buying 2,808,810 shares in the market. Based on an
agreement with the Norwegian State, Hydro's largest shareholder, a proportional
part of the State's shares may be bought for cancellation. The State's
ownership share will therefore remain unaffected by the buyback and
cancellation. In total, up to 5 million shares may be cancelled, equivalent to
approximately 2 percent of the outstanding shares. Final decisions on
cancellation will have to made with a majority of 2/3 in a future General
Meeting.

The following members of the Corporate Assembly were reelected: Svein Steen
Thomassen, Siri Teigum, Aase Gudding Gresvig, Westye Hoegh, Idar Kreutzer,
Sylvi A. Lem, Karen Helene Midelfart, Anne Merete Steensland, Sigurd Storen,
Lars Tronsgaard and Svein Aaser. Sten-Arthur Saelor was elected as new member
of the Corporate Assembly.

  Contact   Cecilie Ditlev-Simonsen           Idar Eikrem
  Telephone [phone]                 ([phone]
  Cellular  ([phone]                 ([phone]
  E-mail     

DATASOURCE: Norsk Hydro ASA



CONTACT:  Cecilie Ditlev-Simonsen, [phone], or cell,

[phone], or , or Idar Eikrem,

[phone], or cell, [phone], or , both of

Norsk Hydro ASA 



Web site:  http://www.hydro.com/ 

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