American Shipping Company ASA : First quarter 2016 results
May 24 2016 - 1:00AM
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.
AMSC Q1 2016 report
AMSC Q1 2016 presentation
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: American Shipping Company ASA via
Globenewswire
HUG#2014745
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