Dorian LPG Ltd. has declared an irregular cash dividend of $0.70 per share of the company’s common stock, amounting to approximately $30.0 million of capital being returned to shareholders. The dividend is payable on or about February 27, 2025, to shareholders of record as of the close of business on February 5, 2025.
For the quarter ended December 31, 2024, the company expects time charter equivalent (TCE) revenues to be between $78.7 million and $80.7 million. Vessel operating expenses, including drydock-related expenses, are projected to be between $20.4 million and $22.4 million. Charter hire expenses are expected to fall between $9.6 million and $11.6 million, while general and administrative expenses (excluding stock-based compensation) are anticipated to range from $4.8 million to $6.8 million. Stock-based compensation is estimated to be between $1.5 million and $1.9 million.
The company's calendar days for the quarter were 1,932, with 368 time chartered-in days and 2,210 available days. Dorian LPG Ltd. also expects to have cash and cash equivalents between $313.5 million and $315.5 million and long-term debt obligations of $569.3 million to $571.3 million.
The company plans to issue a press release on January 31, 2025, prior to the market open, announcing its unaudited financial results for the quarter and year ended December 31, 2024. A conference call to discuss the results will be held on the same day at 10:00 a.m. ET. Today the company's shares have moved -1.7% to a price of $23.78. Check out the company's full 8-K submission here.
