Contact Information: For further information please contact: Company Contact: Dimitri Andritsoyiannis Chief Financial Officer Danaos Corporation Athens, Greece Tel: +30 210 419 6481 E-Mail: cfo@danaos.com Iraklis Prokopakis Chief Operating Officer Danaos Corporation Athens, Greece Tel. +30 210 419 6400 E-Mail: coo@danaos.com Investor Relations and Financial Media: Nicolas Bornozis President Capital Link, Inc. New York Tel. 212-661-7566 E-Mail: nbornozis@capitallink.com
Danaos Corporation Declares Dividend of $0.465 per Share for the Fourth Quarter of 2007
| Source: Danaos Corporation
ATHENS, GREECE--(Marketwire - January 23, 2008) - Danaos Corporation (NYSE : DAC ) announced
that it has declared a dividend of $0.465 per common share for the fourth
quarter of 2007. The dividend is payable on February 14, 2008 to all
shareholders of record as of January 30, 2008.
Mr. Andritsoyiannis, Vice President and Chief Financial Officer of Danaos,
commented: "Consistent with our strategy in the capital markets we
announced today our cash dividend of $0.465 per share corresponding to the
fourth quarter 2007 operations of our company. Danaos' strategy of
chartering its containerships for very long periods at fixed rates
significantly hedges against charter rate fluctuations and thus creates a
profile for a secure quarterly dividend payment. Our corporate objective
pursues accretive growth which will in turn increase our earnings per share
and shareholder value. We have orders for 37 more containerships to be
delivered in the next three years, all of which have already arranged long
term time charters at fixed rates with some of the largest liner companies
in the world. We have elected to follow a high-quality dividend policy for
our shareholders while at the same time we retain cash in order to further
fuel our growth objectives. We believe this solid dividend policy
distinguishes Danaos from its peers and creates value to our shareholders
especially in times of high volatility in the equity capital markets."
About Danaos Corporation
Danaos Corporation is an international owner of containerships, chartering
its vessels to many of the world's largest liner companies. Our current
fleet of 36 containerships aggregating 146,219 TEUs ranks Danaos among the
largest containership charter owners in the world based on total TEU
capacity. Danaos is the largest US listed containership company based on
fleet size. Furthermore, the company has a contracted fleet of 37
additional containerships aggregating 250,068 TEU with scheduled deliveries
up to 2011. The company's shares trade on the New York Stock Exchange under
the symbol "DAC."
Visit our website at www.danaos.com