Quarterly Cash News

Dry bulk shipping company Genco Shipping & Trading Limited said on Wednesday it has reached a deal to acquire a 2016-built 64,000 dwt Ultramax bulk carrier constructed at Zhejiang Yangfan shipyard in China. The vessel, to be renamed Genco Enterprise, is expected to be delivered to Genco between May and July 2021.The purchase marks the fourth Ultramax vessel that Genco has agreed to acquire since December 2020 amid surging rates in the dry bulk sector.John C. Wobensmith, Genco CEO, said, “This latest Ultramax acquisition further grows our presence within the key Ultramax sector that we believe will seamlessly integrate with our strong in-house commercial operating platform.

Bulk carrier owner Genco Shipping & Trading said it has completed a refit program that saw scrubbers installed on board its 17 Capesize vessels as part of the New York-listed owner's plan to comply with new International Maritime Organization (IMO) regulations that limit sulfur emissions from vessels to 0.5% down from 3.5%.John C. Wobensmith, Genco Chief Executive Officer, said the scrubber refit program was the busiest drydocking period in company history.“The completion of this…

Ensco plc announced today that its Board of Directors has declared a regular quarterly cash dividend of US$0.01 per Class A ordinary share payable on March 16, 2018.  The ex-dividend date for this payment is expected to be March 2, 2018 with a record date of March 5, 2018.

Golar LNG Partners announced that it has entered into a purchase and sale for the acquisition from Golar LNG Limited and affiliates of Keppel Shipyard and Black and Veatch of equity interests in Golar Hilli LLC, which will, on the closing date of the Acquisition, indirectly own the FLNG, Hilli Episeyo. The Acquired Interests represent the equivalent of  50% of the two liquefaction trains, out of a total of four, that have been contracted to Perenco Cameroon SA and Societe Nationale Des Hydrocarbures for an eight-year term. The purchase price for the Acquired Interests, as described below, is $658 million less net lease obligations under the financing facility for the Hilli that are expected to be between $468 and $480 million.

Huntington Ingalls Industries announced today that its Board of Directors has declared a quarterly cash dividend of $0.60 per share, payable on March 10, 2017, to shareholders of record as of the close of business on March 3, 2017. Huntington Ingalls Industries is America’s largest military shipbuilding company and a provider of professional services to partners in government and industry. For more than a century, HII’s Newport News and Ingalls shipbuilding divisions in Virginia and Mississippi have built more ships in more ship classes than any other U.S. naval shipbuilder. HII’s Technical Solutions division provides a wide range of professional services through its Fleet Support, Integrated Missions Solutions, Nuclear & Environmental, and Oil & Gas groups.

Greece-based Diana Containerships Inc. has reported a second-quarter loss of $8 million, after reporting a profit in the same period a year earlier. The shipping company posted revenue of $8 million in the period. Net loss for the six months ended June 30, 2016 amounted to $13.8 million, compared to net income of $0.4 million for the same period of 2015. Time charter revenues, net of prepaid charter revenue amortization, for the six months ended June 30, 2016, amounted to $19.8 million, compared to $31.2 million for the same period of 2015. The company made a decision to suspend the quarterly cash dividend on its common shares effective with the quarter ended June 30, 2016.

The Board of Directors of Caterpillar Inc. (NYSE: CAT) voted today to maintain the quarterly cash dividend of seventy-seven cents ($0.77) per share of common stock, payable August 20, 2016, to stockholders of record at the close of business on July 20, 2016. “Our balance sheet and operational performance are strong, even after several years of challenging market conditions. We are maintaining an attractive dividend for our stockholders and positioning the company for growth once our markets rebound," said Caterpillar Chairman and CEO Doug Oberhelman. Caterpillar has paid higher dividends to its stockholders for 22 consecutive years, and since 2007, the company's cash dividend has more than doubled.

The Board of Directors of Caterpillar Inc. (NYSE: CAT) voted today to maintain the quarterly cash dividend of seventy-seven cents ($0.77) per share of common stock, payable May 20, 2016, to stockholders of record at the close of business on April 25, 2016. "Caterpillar’s balance sheet remains strong, and I'm pleased to announce we're maintaining our dividend despite continuing difficult marketplace conditions. We've taken actions to further strengthen our competitive position, including lowering our costs and increasing our machine market position for the past five years," said Caterpillar Chairman and CEO Doug Oberhelman. Caterpillar has paid higher dividends to its stockholders for 22 consecutive years, and since 2007, the company's cash dividend has more than doubled.

Teekay Tankers Ltd. reported adjusted net income attributable to its shareholders of $48.5 million, or $0.31 per share, for the quarter ended December 31, 2015, compared to $18.6 million, or $0.21 per share, for the same period in the prior year. The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share. The increase is primarily due to stronger spot tanker rates in the fourth quarter of 2015 compared to the same period in the prior year and an increase in fleet size related to the acquisition of 17 modern, mid-size tankers during 2015 and the expansion of the Company's chartered-in tanker portfolio in 2014 and 2015.

Höegh LNG Partners LP announced  that its board of directors (the "Board") has declared a quarterly cash distribution with respect to the quarter ended December 31, 2015 of $0.4125 per unit. This represents an increase of $0.075 per unit or approximately 22% from the third quarter 2015 distribution and is related to the acquisition of the FSRU Höegh Gallant. The distribution corresponds to an annualized distribution of $1.65 per unit. The cash distribution will be paid on February 15, 2016 to all unitholders of record as of the close of the business on February 5, 2016. The annual yield on the dividend is 12 percent. Höegh LNG Partners LP is a growth-oriented limited partnership formed by Höegh LNG Holdings Ltd. (Oslo Børs ticker:HLNG), a leading floating LNG service provider.

Satellite services provider Intelsat S. A. announced a quarterly cash dividend of $0.71875 per share, to be paid to holders of its 5.75 percent Series A Mandatory Convertible Junior Non-voting Preferred shares, in accordance with the terms of the preferred shares.   The dividend will be paid on February 1, 2016 to holders of record as of January 15, 2016.

Dynagas LNG Partners LP has entered into an agreement with Dynagas Holding Ltd to purchase 100% of the ownership interests in the entity that owns and operates the Lena River, a 2013 built 155,000 cubic meter ice class liquefied natural gas carrier, and the related time charter contract with Gazprom Global LNG Limited, for an aggregate purchase price of $240.0 million. The closing of the Lena River acquisition is expected to take place on or before December 31, 2015 and is subject to customary closing conditions. The Lena River is currently operating under the Gazprom Charter, which has an initial term of five years and expires in October 2018.

Tidewater Inc. announced that its Board of Directors declared on November 12, 2015, a quarterly cash dividend of $0.25 per share of common stock payable December 15, 2015, to shareholders of record on December 4, 2015. Tidewater is the leading provider of Offshore Service Vessels (OSVs) to the global energy industry.

GasLog Partners LP, an international owner and operator of liquefied natural gas (LNG) carriers,  increased quarterly cash distribution by 10% to $0.478 per unit for the third quarter of 2015, equivalent to $1.912 per unit on an annual basis. It has acquired three LNG carriers from GasLog Ltd. for $483.0 million ($480.0 million net of working capital) with attached multi-year charters to a subsidiary of BG Group plc. Andrew Orekar, Chief Executive Officer, commented: “GasLog Partners’ operating and financial performance this quarter has been strong. We achieved our highest ever quarterly results following the second successful drop-down acquisition since our initial public offering (“IPO”).

DryShips Inc. and through its majority owned subsidiary, Ocean Rig UDW Inc., of offshore deepwater drilling services, today announced its unaudited financial and operating results for the fourth quarter ended December 31, 2014. For the fourth quarter of 2014, the Company reported a net loss of $24.0 million, or $0.04 basic and diluted loss per share. Included in the fourth quarter 2014 results is an impairment charge on one drybulk vessel, of $38.1 million, or $0.06 per share. Excluding this item, the Company’s net results would have amounted to a net income of $14.1 million, or $0.02 per share. The Company reported Adjusted EBITDA of $298.7 million for the fourth quarter of 2014, as compared to $179.8 million for the fourth quarter of 2013.

GasLog Ltd. and its subsidiaries an international owner, operator and manager of liquefied natural gas carriers, today reported its unaudited financial results for the quarter ended December 31, 2014. •         Agreement to acquire two additional LNG carriers from a subsidiary of BG Group plc (“BG Group”) for $460.0 million that will be chartered back to the same subsidiary of BG Group with average charters of 10 years, adding $590 million to our contracted revenue. •        16% increase in quarterly distribution from GasLog Partners LP (“GasLog Partners”) which exceeds the first Incentive Distribution Right (“IDR”) threshold, resulting in higher quarterly distributions to GasLog by $0.6 million.

U.S. shipbuilder Huntington Ingalls Industries (HII) announced today that its board of directors has declared a quarterly cash dividend of $0.40 per share, payable on June 12, 2015, to shareholders of record as of the close of business on May 29, 2015.

Tidewater Inc. announced that its Board of Directors declared on May 14, 2015, a quarterly cash dividend of $0.25 per share of common stock payable June 15, 2015, to shareholders of record on June 5, 2015. Tidewater also announced today that its Board of Directors has approved an extension of its current common stock repurchase program from its original expiration date of June 30, 2015 to June 30, 2016. If shares are purchased in open market or privately-negotiated transactions pursuant to this share repurchase program, the Company will use its available cash and/or borrowings under its revolving credit facility or other borrowings to fund any share repurchases. With this approved extension, the Company's current repurchase program will continue in effect through June 30, 2016.

Ensco plcannounced today that its Board of Directors has declared a regular quarterly cash dividend of US$0.15 per Class A ordinary share payable on 19 June 2015. The ex-dividend date for this payment is expected to be 4 June 2015, with a record date of 8 June 2015. Ensco announced at its annual general meeting of shareholders on 18 May 2015 that the vast majority of shares cast were voted “For” all proposals in its 1 April 2015 proxy statement. Ensco uses its website to disclose material and non-material information to investors, customers, employees and others interested in the Company. To receive regular updates on Ensco news or SEC filings

The board of directors of Caterpillar Inc. voted to increase the quarterly cash dividend by 10 percent to $0.77 per share of common stock, payable August 20, 2015, to stockholders of record at the close of business on July 20, 2015. "This 10 percent dividend increase is another example of our commitment to deliver superior returns to stockholders through the ups and downs of the industries we serve. Our strong balance sheet, cash flow and operational performance have put us in a position to reward stockholders with a higher dividend again this year," said Caterpillar Chairman and CEO Doug Oberhelman. "The increase is consistent with our cash deployment priorities – maintaining financial strength…

GasLog Partners LP and GasLog Ltd. announced today that they have entered into an agreement for the Partnership to purchase from GasLog, the sole member of the Partnership’s general partner, 100% of the shares in the entities that own and charter the Methane Alison Victoria, Methane Shirley Elisabeth and Methane Heather Sally, for an aggregate purchase price of $483 million (the “Acquisition”), which includes $3 million for positive net working capital balances to be transferred with the vessels. The three vessels subject to the Acquisition are modern liquefied natural gas carriers built in 2007, each with a capacity of 145,000 cubic meters.

Highlights of Navios Maritime Holdings Inc. IPO of Navios Maritime Midstream Partners L.P. Navios Maritime Holdings Inc. a global vertically integrated seaborne shipping and logistics company, today reported financial results for the third quarter and nine months ended September 30, 2014. Angeliki Frangou, Chairman and Chief Executive Officer, stated, "We are pleased with our results for the third quarter of 2014, for which we reported EBITDA of $42.4 million, a 5% increase compared to the same period last year. As a result, we have announced a dividend of 6 cents for Q3 2014 representing a yield of about 4.2%. On September 17, 2014…

The Board of Directors of Caterpillar Inc. voted today to maintain the quarterly cash dividend of seventy-seven cents ($0.77) per share of common stock, payable November 20, 2015, to stockholders of record at the close of business on October 26, 2015. “I am pleased to announce we are maintaining Caterpillar’s dividend,” said Caterpillar Chairman and CEO Doug Oberhelman. “Even in this challenging environment, where we are aggressively moving to reduce our cost structure to match our current business outlook, we remain committed to rewarding stockholders through the cycles. Including this announcement, Caterpillar has paid higher dividends to its stockholders for 22 consecutive years, and since 2007, the company’s cash dividend has more than doubled.