TOP Tankers to End Quarterly Dividends
Oil and petroleum shipping company TOP Tankers Inc. said Thursday it will stop paying regular quarterly dividends, but said its board declared a special dividend of $2.50. The Athens-based company said the special dividend is payable April 25 to shareholders of record on April 17. The company's regular quarterly dividend was 21 cents, or 84 cents a year. Shares of the company fell 41 cents, or 3.3 percent, to $11.75 in morning trading on the Nasdaq, falling past its prior 52-week low of $11.80. Its stock, which previously traded in a 12-month range of $11.80 to $18.76, is up 31 percent since the start of the year. (Source: MSN Money)