Star Bulk Declares Dividend, $.05 Per Share

Friday, June 26, 2009

Star Bulk Carriers Corp. (NASDAQ: SBLK) announced that its Board of Directors declared a cash dividend of $0.05 per outstanding share of the company's common stock for the three months ending June 30, 2009. The dividend is payable on or about July 14, 2009 to shareholders of record as of July 7, 2009. The company received written consent from each of its lenders for the declaration and payment of this dividend in respect of the second quarter of 2009.

Under the terms of the company's waiver agreements with its lenders, in effect up to February 2010, any payment of dividends during the applicable waiver period is subject to the lenders' prior written consent. The company will be required to obtain further consent of its lenders in order to pay dividends in respect of the quarters ending September 30 and December 31, 2009.

Akis Tsirigakis, President and CEO of Star Bulk, said "We are pleased to be able to implement our long-standing principle of rewarding our investors through the distribution of dividends. We are also pleased to have our lenders' vote of confidence, evidenced by their consent to the distribution of dividend. Currently, our fleet is contracted for 100% of 2009, 71% of 2010 and 42% of 2011, which provides long-term earnings visibility. We continue to focus on enhancing shareholder value supported by our strong balance sheet and liquidity."

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

CMA CGM Continues Expansion, Confirms Profits

The Board of Directors of CMA CGM Group, the world’s third largest container shipping company, met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer,

Odfjell Drilling in Tighter 2Q North Sea Market

Odfjell Drilling reports second quarter 2014 financial results showing a profit of US$29-million. Profit & loss Q2 2014 Operating revenue for Q2 2014 was USD 272 million (USD 289 million),

DP World 1H 2014 Profit Soars

Global marine terminal operator DP World releases strong financial results from its global portfolio of marine terminals for the six months to 30 June 2014, delivering

 
 
Maritime Careers / Shipboard Positions Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1174 sec (9 req/sec)