Euroseas Ltd. Declares Quarterly Dividend and Sets Date for the Release of Fourth Quarter and Year End 2009 Results, Conference Call and Webcast
MAROUSSI, ATHENS, GREECE--(Marketwire - February 23, 2010) - Euroseas Ltd. (NASDAQ: ESEA), an
owner and operator of drybulk and container carrier vessels and provider of
seaborne transportation for drybulk and containerized cargoes, announced
today that the Company's Board of Directors has declared a dividend of
$0.05 per common share for the fourth quarter of 2009. The dividend is
payable on March 26, 2010 to all shareholders of record as of March 17,
2010. This is the 18th consecutive quarterly dividend since the company
accessed the capital markets in August 2005.
The Company also announced today that it will release its fourth quarter
and full year results for the period ended December 31, 2009, on Monday,
March 1, 2010 after the market closes in New York. The following day,
Tuesday, March 2, 2010, at 9:30 am EST, the Company's management will host
a conference call and webcast to discuss the results.
Conference Call Details:
Participants should dial into the call 10 minutes before the scheduled time
using the following numbers: 1 866 819 7111 (from the US), 0800 953 0329
(from the UK) or +44 (0)1452 542 301 (international standard dial in).
Please quote "Euroseas."
A recording of the conference call will be available until March 9, 2010,
by dialing 1 866 247 4222 (from the US), 0800 953 1533 (from the UK) or +44
(0)1452 550 000 (international standard dial in). Access Code: 6973591#
Audio Webcast - Slides Presentation:
There will be a live and then archived audio webcast of the conference
call, via the internet through the Euroseas website (www.euroseas.gr).
Participants to the live webcast should register on the website
approximately 10 minutes prior to the start of the webcast.
A slide presentation on the Fourth Quarter 2009 results for the period
ended December 31, 2009, will also be available in PDF format 30 minutes
prior to the conference call and webcast accessible on the company's
website (www.euroseas.gr) on the webcast page. Participants to the webcast
can download the PDF presentation.
About Euroseas Ltd.
Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of
the Marshall Islands to consolidate the ship owning interests of the Pittas
family of Athens, Greece, which has been in the shipping business over the
past 136 years. Euroseas trades on the NASDAQ Global Select Market under
the ticker ESEA.
Euroseas operates in the dry cargo, drybulk and container shipping markets.
Euroseas' operations are managed by Eurobulk Ltd., an ISO 9001:2000
certified affiliated ship management company, which is responsible for the
day-to-day commercial and technical management and operations of the
vessels. Euroseas employs its vessels on spot and period charters and
through pool arrangements.
The Company has a fleet of 15 vessels, including 4 Panamax drybulk carriers
and 1 Handymax drybulk carrier, 2 Intermediate containership, 5 Handysize
containerships, 2 Feeder containerships and a multipurpose dry cargo
vessel. Euroseas` 5 drybulk carriers have a total cargo capacity of 331,808
dwt, its 9 containerships have a cargo capacity of 15,779 teu and its
multipurpose vessel has a cargo capacity of 22,568 dwt or 950 teu.
Forward Looking Statement
This press release contains forward-looking statements (as defined in
Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended) concerning future events
and the Company's growth strategy and measures to implement such strategy;
including our expected joint venture and vessel acquisitions and time
charters. Words such as "expects," "intends," "plans," "believes,"
"anticipates," "hopes," "estimates," and variations of such words and
similar expressions are intended to identify forward-looking statements.
Although the Company believes that the expectations reflected in such
forward-looking statements are reasonable, no assurance can be given that
such expectations will prove to have been correct. These statements involve
known and unknown risks and are based upon a number of assumptions and
estimates that are inherently subject to significant uncertainties and
contingencies, many of which are beyond the control of the Company. Actual
results may differ materially from those expressed or implied by such
forward-looking statements. Factors that could cause actual results to
differ materially include, but are not limited to changes in the demand for
drybulk vessels and containerships, competitive factors in the market in
which the Company operates; risks associated with operations outside the
United States; and other factors listed from time to time in the Company's
filings with the Securities and Exchange Commission. The Company expressly
disclaims any obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to reflect any
change in the Company's expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is based.
Visit our website www.euroseas.gr
Contact Information: Company Contact
Chief Financial Officer
11 Canterbury Lane,
Watchung, NJ 07069
Tel. (908) 301-9091
Investor Relations / Financial Media
Capital Link, Inc.
230 Park Avenue, Suite 1536
New York, NY 10169
Tel. (212) 661-7566