Mowi Meeting Concludes
Mowi ASA has officially held its Ordinary General Meeting as reported on the OSE exchange
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Mowi ASA (OSE:MOWI) held its Annual General Meeting on June 3, 2026, and shareholders approved every item on the agenda, according to GlobeNewswire. The meeting ran as a fully digital event and wrapped up by 11:30 CEST. The vote confirms the company's continued course as the world's largest Atlantic salmon producer.
The approval covers Mowi's financial statements, board elections, and a quarterly dividend of NOK 2.30 per share for Q1 2026, as MarketScreener confirmed. The payout had already been distributed to shareholders on June 2, following an ex-dividend date of May 22.
Q1 Results Back Up the Shareholder Vote
The AGM came days after Mowi called Q1 2026 the "second best Q1 ever." The company posted operational revenue of EUR 1.54 billion and an operational EBIT — earnings before interest and taxes — of EUR 221 million. That is up 3% from the same period in 2025, GlobeNewswire reported.
CEO Ivan Vindheim said: "I am delighted that we are delivering on our strategy — costs in Farming are down and are expected to fall even more in 2026." Farming cost dropped from EUR 5.89 per kg in Q1 2025 to EUR 5.46 per kg in Q1 2026. That is a 7.3% cut in one year.
NOK 2.30 Dividend Signals Confidence Despite Supply Surge
The board approved the NOK 2.30 per share dividend even as global salmon supply jumped 14% in Q1 2026. That kind of supply surge usually pushes prices down and squeezes profits. Mowi's size and low costs helped it absorb the pressure, MarketScreener noted.
For the full year, Mowi plans to harvest 605,000 gutted weight tonnes (GWT) of salmon. The broader industry is only expected to grow about 1% in 2026. Mowi's plan to harvest that volume puts it well ahead of rivals and gives it more power over global seafood prices.
Analysts See Value but Warn of Stock Slide
Mowi shares have fallen about 20% so far in 2026, weighed down by the same supply glut that pressured prices industry-wide. Despite that, analysts point to a price-to-earnings ratio of 13 and a PEG ratio of 0.26 as signs the stock may be undervalued. A consensus "Hold" rating sits alongside a price target of NOK 220.00.
The company's net debt stands at EUR 2.74 billion, a figure investors are watching closely. Mowi recently added to its Norway footprint by acquiring Torghatten Aqua's salmon farming business. The next major test for the stock will come when Q2 2026 results are released in August.
AGM Confirms Steady Board Amid Tax and Policy Pressure
The board elections were passed without issue. Leif Teksum chaired the meeting as Interim Chair, providing stability during a period of leadership transition. Kathrine Fredriksen, whose family controls Mowi through Geveran Trading Co. Ltd, remains a key board member shaping capital strategy, Weekly Voice reported.
Mowi is also pushing back against Norway's "ground rent tax" — a resource tax on fish farming. The AGM results show a board holding its line on strategy despite ongoing uncertainty in Norwegian law. The minutes from the meeting were released in an official English translation, per GlobeNewswire.
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