UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16
OF
THE SECURITIES EXCHANGE ACT OF 1934
For
the month of: October 2007
Commission
File Number: 001-16601
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Frontline
Ltd.
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(Translation
of registrant’s name into English)
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Par-la-Ville
Place, 14 Par-la-Ville Road, Hamilton, HM 08, Bermuda
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(Address
of principal executive office)
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Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.
Form
20-F [X] Form 40-F
[ ]
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): ___
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)7: ___
Indicate
by check mark whether the registrant by furnishing the information contained
in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes
[_] No [X]
If
“Yes” is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-______________.
INFORMATION
CONTAINED IN THIS FORM 6-K REPORT
Attached
as Exhibit 1 is a copy of the press release issued by Frontline Ltd. announcing
an extraordinary dividend payment.
Exhibit
1
FRO
– Extraordinary dividend
As
announced earlier today, Frontline Ltd. (“the “Company” or “Frontline”) has on
Tuesday October 2, 2007 sold its entire holding of 34,976,500 shares in Dockwise
Ltd. (“Dockwise”). The shares were sold at a gross price of NOK 25 per share,
with net proceeds of approximately $157 million. Frontline is expected to
record
a gain of approximately $49 million in the fourth quarter of 2007 as a result
of
this sale. In the second quarter of 2007, Frontline recorded a gain on the
issuance of shares by Dockwise of $43.7 million.
Instead
of keeping these funds until the payment of the ordinary dividend payment
for
third quarter of 2007, the Board has in a meeting on October 2, 2007, decided
to
declare an interim extraordinary dividend of $1.75 per share resulting from
the
cash generated from the sale of the Dockwise shares. This interim dividend
will
in combination with the relative weak spot market in third quarter reduce
the
normal dividend for third quarter of 2007.
The
record date for the dividend is October 12, 2007, ex dividend date is October
10, 2007 and the dividend will be paid on or about October 24,
2007.
October
2, 2007
The
Board of Directors
Frontline
Ltd.
Hamilton,
Bermuda
Cautionary
Statement Regarding Forward Looking Statements
This
press release may contain forward looking statements. These statements are
based
upon various assumptions, many of which are based, in turn, upon further
assumptions, including Frontline management’s examination of historical
operating trends. Although Frontline believes that these assumptions were
reasonable when made, because assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to predict
and
are beyond its control, Frontline cannot give assurance that it will achieve
or
accomplish these expectations, beliefs or intentions.
Important
factors that, in the Company’s view, could cause actual results to differ
materially from those discussed in this presentation include the strength
of
world economies and currencies, general market conditions including fluctuations
in charter hire rates and vessel values, changes in demand in the tanker
market
as a result of changes in OPEC’s petroleum production levels and world wide oil
consumption and storage, changes in the Company’s operating expenses including
bunker prices, dry-docking and insurance costs, changes in governmental rules
and regulations or actions taken by regulatory authorities, potential liability
from pending or future litigation, general domestic and international political
conditions, potential disruption of shipping routes due to accidents or
political events, and other important factors described from time to time
in the
reports filed by the Company with the United States Securities and Exchange
Commission.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
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FRONTLINE
LTD.
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(registrant)
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Dated: October
2, 2007
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By:
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/s/ Inger
M. Klemp
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Inger
M. Klemp
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Principal
Financial Officer
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SK
02089 0009 815480