Dorian LPG Ltd. has declared an irregular cash dividend of $1.00 per share of the company's common stock, totaling approximately $40.6 million. The dividend is payable on or about February 27, 2024, to all shareholders of record as of the close of business on February 5, 2024.
"The declaration of this irregular cash dividend reflects the board's confidence in our financial position and our commitment to delivering value to our shareholders," stated the management.
In response to the announcement, the company's shares have experienced a marginal movement, declining by 0.3% and are currently trading at $40.85.
The company's full 8-K submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (k) | $159,335 | $158,032 | $333,430 | $315,939 | $274,221 | $389,749 |
| Revenue Growth | n/a | -0.82% | 110.99% | -5.25% | -13.2% | 42.13% |
| Operating Margins | 2% | -5% | 48% | 37% | 34% | 51% |
| Net Margins | -13% | -32% | 34% | 28% | 26% | 44% |
| Net Income (k) | -$20,401 | -$50,946 | $111,841 | $92,565 | $71,935 | $172,444 |
| Net Interest Expense (k) | $27,423 | $36,638 | $32,355 | $21,665 | $20,120 | $31,399 |
| Depreciation & Amort. (k) | $65,330 | $65,201 | $66,263 | $68,462 | $66,432 | $63,396 |
| Earnings Per Share | -$0.38 | -$0.93 | $2.07 | $1.86 | $1.78 | $4.29 |
| EPS Growth | n/a | -144.74% | 322.58% | -10.14% | -4.3% | 141.01% |
| Diluted Shares (k) | 54,441 | 54,177 | 50,368 | 40,025 | 40,255 | 40,405 |
| Capital Expenditures | $298 | $3,973 | $19,883 | $9,493 | $23,186 | $68,781 |
| Current Ratio | 1.17 | 1.67 | 2.81 | 2.29 | 2.72 | 2.63 |
| Total Debt (k) | $1,405,366 | $1,282,396 | $1,185,842 | $1,115,920 | $1,220,026 | $1,235,749 |
| Net Debt / EBITDA | 19.81 | 21.27 | 4.63 | 5.42 | 6.86 | 3.99 |
Dorian LPG has exceptional EPS growth, an excellent current ratio, and positive cash flows. However, the firm has a highly leveraged balance sheet. Finally, we note that Dorian LPG has decent operating margins with a positive growth rate.
