American Shipping Company ASA : Ex-dividend today
Lysaker, 30 May 2016 - Reference is made to the Company's Q1 2016 report, regarding the Board's authorization to pay a quarterly dividend of USD 0.107 per share to the shareholders of AMSC on record as of 31 May 2016. The shares in American Shipping Company ASA will be traded ex dividend USD 0.107 as from today, 30 May 2016. Based on the closing NOK/USD exchange rate on 27 May 2016, the NOK amount per share will be 0.8912 and will be paid on or about 8 June 2016. The dividend is classified as a return of paid in capital.
The dividend is approximately 4% higher than Q1 2015, and total dividends for 2016 are expected to increase about 15% compared to 2015.
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About American Shipping Company ASA:
Established in 2005 and listed on the OSE, AMSC is a ship owning company with nine modern handy size product tankers and one modern handy size shuttle tanker on long term bareboat charter with Overseas Shipholding Group (OSG). OSG charters the vessels out on time charters to major oil companies in the U.S. coastwise Jones Act trade. AMSC has a significant contract backlog as well as a profit sharing agreement with OSG which offers visibility with respect to future earnings and potential dividend capacity. The Company has an ambition to pay attractive and growing dividends to its shareholders. Further information is available at www.americanshippingco.com.
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
