OSG Suspends Quarterly Dividend

(Press Release)
Saturday, February 11, 2012


 

Overseas Shipholding Group, Inc. (NYSE: OSG), a market leader in providing energy transportation services, announced that its Board of Directors has suspended the payment of regular quarterly dividends.  No dividend will be paid in the first quarter of 2012.

Commenting on the dividend suspension, Morten Arntzen, President and Chief Executive Officer, stated:  "The downturn in our international flag markets has been deeper and has lasted longer than we anticipated, as evidenced by a fairly tepid winter market.  At the same time, economic uncertainty in the world persists and the banking markets have become more challenging.  Therefore, to preserve liquidity and maintain financial flexibility, the Board suspended the quarterly dividend until further notice.  The Board will reassess the dividend as our markets improve."

 

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

Tanker Trends

Pirates Approach Tanker in Bab El Mandeb

The U.S. Navy Maritime Liaison Office in Bahrain (MARLO) has advised that on or about 12:30 UTC on 14 April, the Master of an oil tanker reported being approached by a white-blue skiff in position 12.

Shippers Turn to Equity Markets as Sector Eyes Recovery

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

YPF Tenders to Buy Fuel Oil for June

State-run oil company YPF launched its second fuel oil tender in April, this time to buy two 50,000 metric ton cargoes (some 375,000 barrels each) to be received

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Salvage Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.0877 sec (11 req/sec)