Ocean Yield Reports Profits
By Aiswarya Lakshmi
July 12, 2015
Oslo-listed owner of chemical tankers Ocean Yield saw second quarter net profit rise to $25.8m from $17.1m for the period in 2014, with its focus on stable earnings from long-term charters.
The Board of Directors has declared a dividend of USD 0.1525 per share for Q2 2015. This is an increase of 0.50 cents per share compared with the previous quarter. On an annualized basis, the dividend equals USD 0.61 per share.
Based on the closing share price as of 9th July 2015, this is a dividend yield of 7.9% p.a. This is the 7th consecutive dividend increase since the IPO of Ocean Yield in July 2013.
Net profit after tax was USD 25.8 million for the second quarter 2015 compared with USD 17.1 million for the second quarter of 2014.
The dividend will be paid on or about 24th July 2015 to shareholders as of 14th July 2015 registered with the Norwegian Central Securities Depository (VPS) as of July 16, 2015. The ex-dividend date will be July 15, 2015.
