BW LPG Limited – Key information relating to the cash dividend for Q2 2024

Rhea-AI Summary

BW LPG (NYSE: BWLP, OSE: BWLPG.OL) has announced key information regarding its cash dividend for Q2 2024. The Board has approved a dividend of US$0.58 on August 21, 2024. For shares registered with Euronext VPS, dividends will be distributed in NOK, with the exchange rate available on the payment day. The record date is set for September 10, 2024.

For shares on the Oslo Stock Exchange, the last trading day including dividend rights is September 6, 2024, with an ex-date of September 9, 2024. Payment is expected around September 30, 2024. For shares registered with the Depository Trust Company, the last trading day including dividend rights is September 9, 2024, with an ex-date of September 10, 2024, and payment expected around September 25, 2024.

Positive

• Board approval of a US$0.58 dividend for Q2 2024
• Consistent dividend payout indicating financial stability

Negative

• None.

Insights

Financial Analyst

BW LPG's announcement of a $0.58 dividend for Q2 2024 signals strong financial health and shareholder value focus. This substantial dividend suggests robust cash flow and confidence in future performance. For context, the shipping industry's average dividend yield is around 3-4%. Without knowing BW LPG's share price, we can't calculate the exact yield, but this payout appears generous. The company's dual listing on Oslo and NYSE exchanges adds complexity to dividend distribution but also indicates global investor interest. The different ex-dividend and payment dates for Oslo and NYSE listings are important for investors to note, ensuring proper planning for dividend capture strategies. Overall, this dividend announcement is a positive indicator for BW LPG's financial stability and commitment to shareholder returns.

Market Research Analyst

BW LPG's dividend announcement comes amid a volatile period for the LPG shipping market. Recent geopolitical tensions and shifts in global energy demand have impacted LPG trade routes and rates. This consistent dividend payout suggests BW LPG is navigating these challenges effectively. The company's ability to maintain such a dividend level indicates:

• Strong market position in the VLGC (Very Large Gas Carrier) segment
• Efficient fleet management and operational excellence
• Potential long-term contracts securing stable cash flows

Investors should monitor upcoming industry reports on LPG shipping rates and volumes to gauge the sustainability of this dividend level. The timing of the dividend, falling in September, aligns with typically strong seasonal demand for LPG, potentially reflecting management's optimism about near-term market conditions.

SINGAPORE--(BUSINESS WIRE)-- BW LPG Limited (“BW LPG" or the "Company", OSE ticker code: "BWLPG.OL", NYSE ticker code "BWLP") provides the following key information relating to the Company's cash dividend for Q2 2024:

The Board has approved a dividend of US$0.58 on 21 August 2024. Dividends payable to shares registered with Euronext VPS will be distributed in NOK, with the exchange rate made available on the day of payment.

Record date: 10 September 2024

Shares registered with Euronext VPS Oslo Stock Exchange
===============================
Last trading day including the right to receive this dividend: 6 September 2024
Ex-date: 9 September 2024
Dividend payment date: On or about 30 September 2024

Shares registered with Depository Trust Company
===============================
Last trading day including the right to receive this dividend: 9 September 2024
Ex-date: 10 September 2024
Dividend payment date: On or about 25 September 2024

About BW LPG

BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, an in-house LPG trading division and a growing presence in LPG terminal infrastructure and distribution, BW LPG offers an integrated, flexible, and reliable service to customers along the LPG value chain. More information about BW LPG can be found at https://www.bwlpg.com.

BW LPG is associated with BW Group, a leading global maritime company involved in shipping, floating infrastructure, deepwater oil & gas production, and new sustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleet of over 450 vessels transporting oil, gas and dry commodities, with its 200 LNG and LPG ships constituting the largest gas fleet in the world. In the renewables space, the group has investments in solar, wind, batteries, biofuels and water treatment.

This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240821588565/en/

For further information:

Samantha Xu

Chief Financial Officer

E-mail: investor.relations@bwlpg.com

Source: BW LPG Limited

FAQ

What is the Q2 2024 dividend amount for BW LPG (BWLP)?

BW LPG (BWLP) has approved a dividend of US$0.58 for Q2 2024.

When is the record date for BW LPG's (BWLP) Q2 2024 dividend?

The record date for BW LPG's (BWLP) Q2 2024 dividend is September 10, 2024.

What is the ex-dividend date for BW LPG (BWLP) shares on the Oslo Stock Exchange?

The ex-dividend date for BW LPG (BWLP) shares on the Oslo Stock Exchange is September 9, 2024.

When will BW LPG (BWLP) pay its Q2 2024 dividend for shares registered with Euronext VPS?

BW LPG (BWLP) is expected to pay its Q2 2024 dividend for shares registered with Euronext VPS on or about September 30, 2024.