Subsea 7 SA announced that in light of the company's continued improvement in performance, the strength of the balance sheet and confidence in the outlook for the industry, the Board of Directors has decided to recommend to shareholders that they approve at the next Annual General Meeting the payment of a special dividend of $0.60 per share.

The company also announced that Trond Westlie and Arild Schultz communicated to the Board on March 13 their intention not to stand for re-election on expiry of their term as Directors of the company at the 2013 AGM. Trond Westlie was first appointed as a Director of the company in 2004 and Arild Schultz was first appointed as a Director of Subsea 7 Inc. in 2002.