Oslo, 24 May 2016, American Shipping Company ASA announces results for the first quarter ending 31 March 2016
Highlights:
- Increasing normalized EBITDA of MUSD 26.2 for Q1 2016 vs. MUSD 25.3 in Q1 2015 (Normalized EBITDA: base bareboat revenue, plus profit share, plus DPO, less SG&A)
- Declared Q1 2016 dividend of USD 0.107 per share, approximately 4% higher than Q1 2015, which equates to an annualized dividend yield of 13.6% based on the share price as of 23 May 2016.
- Reiterated guiding on approximately 15% year on year dividend growth for 2016 vs. 2015
- Backlog of secured bareboat revenue of MUSD 380 with average weighted tenor of 4.3 years
The full report is attached, along with the Q1 presentation.
Company contacts:
Pål Magnussen, Chief Executive Officer
+47 24 13 00 04
Morten Bakke, Chief Financial Officer
+47 24 13 00 87
Leigh Jaros, Business Controller / Finance Manager
+1 484 880 3741
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
