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.

AMSC Q2 presentation
AMSC Q2 report


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#2035367
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