Lysaker, 16 August 2016, American Shipping Company ASA announces results for the second quarter ending 30 June 2016
Highlights:
- Increasing normalized EBITDA of MUSD 25.1 for Q2 2016 vs. MUSD 24.3 in Q1 2015 (Normalized EBITDA: base bareboat revenue, plus profit share, plus DPO, less SG&A)
- Declared Q2 2016 dividend of USD 0.124 per share, which equates to an annualized dividend yield of 15.9% based on the share price as of 15 August 2016.
- Q2 dividend is in line with previous guidance of 15% year on year dividend growth for 2016
- Backlog of secured bareboat revenue of MUSD 358 with average weighted tenor of 4.1 years
The full report is attached, along with the Q2 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.
