Box Ships Inc. Announces Q1 2012 Financial Results

Container shipping company, Box Ships Inc., based in Athens, Greece, declares dividend for fourth consecutive quarter

Box Ships Inc. is an Athens, Greece-based international shipping company specializing in the transportation of containers. The Company's current fleet consists of seven containerships with a total carrying capacity of 33,237 TEU and a weighted-average age of 4.4 years. The company's shares trade on the New York Stock Exchange under the symbol "TEU."

The company has announced that its Board of Directors declared a quarterly dividend of $0.30 per share with respect to the first quarter of 2012, payable on or about May 18, 2012 to shareholders of record as of the close of business on May 11, 2012.

Commenting on the Company's dividend declaration, Michael Bodouroglou, the Chairman, President and Chief Executive Officer of the Company, stated, "We are pleased to announce our fourth consecutive quarterly dividend since the Company's IPO in April of 2011. Since then, we have declared dividends totaling in aggregate $1.05 per share to our shareholders."