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Imperial Petroleum Inc. 8.75% Series A Cumulative Redeemable Perpetual Preferred Shares - IMPPP STOCK NEWS

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Imperial Petroleum Inc is a provider of international seaborne transportation services to oil producers, refineries, and commodities traders. It owns and operates a fleet of six medium-range product tankers carrying refined petroleum products, edible oils, and chemicals. Apart from the existing vessels, the company is set to acquire two additional tankers, expanding its fleet to eleven vessels with a total capacity of 791,716 deadweight tons. The company's shares of common stock and 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock are listed on the Nasdaq Capital Market under the symbols “IMPP” and “IMPPP” respectively.

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Imperial Petroleum (Nasdaq: IMPP), a ship-owning company providing petroleum products, crude oil, and drybulk seaborne transportation services, has announced a dividend of $0.546875 per share on its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock. The dividend will be paid on December 30, 2024 to shareholders of record as of December 24, 2024. This payment covers the period from September 30, 2024, through December 29, 2024. Currently, there are 795,878 Series A Preferred Shares outstanding, trading under the symbol 'IMPPP' on the Nasdaq Capital Market.

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Imperial Petroleum reported Q3 2024 financial results with revenues of $33.0 million, up 12.2% from Q3 2023. Net income was $10.1 million, compared to $12.1 million in Q3 2023. The company's fleet operational utilization decreased to 65.6% from 70.5% year-over-year. Cash and cash equivalents reached nearly $200 million, a 58.7% increase from September 2023. For the nine months ended September 2024, total net income was $46.2 million with operating cash flows of $68.0 million. The company maintains zero debt and has contracted to acquire new vessels expected for delivery in early 2025.

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Imperial Petroleum has scheduled the release of its Q3 and nine months 2024 financial results for December 2, 2024, before the New York market opens. The company will host a conference call at 10:00 am ET on the same day to discuss results, operations, and outlook. The event will include a live webcast through the company's website, and participants must pre-register to receive dial-in numbers and a personal PIN for call access.

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IMPERIAL PETROLEUM INC. (Nasdaq: IMPP) has announced a dividend of $0.546875 per share on its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock. The dividend is payable on September 30, 2024 to shareholders of record as of September 25, 2024. This payment covers the period from June 30, 2024, to September 29, 2024. Currently, there are 795,878 Series A Preferred Shares outstanding. These shares are traded on the Nasdaq Capital Market under the ticker symbol 'IMPPP'. IMPERIAL PETROLEUM INC. is a ship-owning company that provides transportation services for petroleum products, crude oil, and drybulk cargo.

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Imperial Petroleum Inc. (NASDAQ: IMPP) reported its Q2 and H1 2024 financial results. Key highlights include:

- Q2 2024 revenues of $47.0 million, up 14.1% from Q1 2024 but down 20.3% year-over-year

- Q2 2024 net income of $19.5 million, up $2.8 million from Q1 2024 and $2.7 million year-over-year

- Cash and cash equivalents of $129.8 million as of June 30, 2024

- Fleet operational utilization of 80.9% in Q2 2024

- Delivery of handysize drybulk carrier Neptulus on August 24, 2024

- Receipt of $39 million from C3is Inc. on July 15, 2024, increasing current cash balance to nearly $190 million

The company's performance was driven by strong product tanker markets west of Suez. CEO Harry Vafias noted the company's recurring profitability, strong cash position, and zero leverage provide flexibility for future growth.

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Imperial Petroleum Inc. (IMPP), a ship-owning company providing petroleum products, crude oil, and drybulk seaborne transportation services, has announced the release date for its second quarter and six months 2024 financial results. The company will disclose its financial performance for the period ended June 30, 2024, before the New York market opens on August 27, 2024.

Following the release, Imperial Petroleum's management will host a conference call at 11:00 am ET on August 27, 2024, to discuss the results, operations, and outlook. Interested participants can pre-register for the call using a provided link to receive dial-in numbers and a personal PIN. Additionally, a live webcast of the conference call will be available through the company's website, with archived access afterwards.

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IMPERIAL PETROLEUM (Nasdaq: IMPP) has announced a dividend of $0.546875 per share on its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock. This dividend will be paid on July 1, 2024, to shareholders on record as of June 26, 2024. The dividend covers the period from March 30, 2024, to June 29, 2024. There are currently 795,878 Series A Preferred Shares outstanding, which trade on the Nasdaq Capital Market under the ticker 'IMPPP.'

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Imperial Petroleum Inc. (NASDAQ: IMPP) announced its Q1 2024 financial results. The company reported revenues of $41.2 million, a drop from $65.4 million in Q1 2023, primarily due to a 38% decline in tanker market spot rates. However, net income rose by 157% from Q4 2023 to $16.7 million. The company has $67.0 million in cash and no debt. Operational utilization improved to 80.6% from Q4 2023. The average number of vessels owned decreased slightly to 9.84. The company also sold its Aframax tanker Gstaad Grace II for $42 million. CEO Harry Vafias expressed optimism regarding the company's financial health and future growth.

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Imperial Petroleum, a ship-owning company specializing in the transportation of petroleum products, crude oil, and dry bulk, announced the upcoming release of its first quarter 2024 financial results, covering the period ending March 31, 2024.

The results will be released on May 16, 2024, before the market opens in New York. At 09:00 am ET on the same day, the company's management will host a conference call to discuss the financial results, operations, and future outlook.

Participants need to pre-register to access the call and can do so using the provided online registration link. A live and archived webcast of the call will be available on the Imperial Petroleum website.

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Imperial Petroleum Inc. (IMPP) declared a dividend of $0.546875 per share on its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock, payable on April 1, 2024. The dividend covers the period from December 30, 2023, through March 29, 2024, with 795,878 Series A Preferred Shares outstanding.
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FAQ

What is the current stock price of Imperial Petroleum 8.75% Series A Cumulative Redeemable Perpetual Preferred Shares (IMPPP)?

The current stock price of Imperial Petroleum 8.75% Series A Cumulative Redeemable Perpetual Preferred Shares (IMPPP) is $25.66 as of December 23, 2024.

What does Imperial Petroleum Inc specialize in?

Imperial Petroleum Inc provides seaborne transportation services to oil producers, refineries, and commodities traders.

How many vessels does Imperial Petroleum Inc own and operate?

Imperial Petroleum Inc owns and operates a fleet of six medium-range product tankers and is set to acquire two additional tankers.

Where are the shares of Imperial Petroleum Inc listed?

The shares of Imperial Petroleum Inc are listed on the Nasdaq Capital Market under the symbols “IMPP” and “IMPPP.”

What is the total capacity of Imperial Petroleum Inc's fleet after the acquisition of additional tankers?

Imperial Petroleum Inc's fleet will consist of eleven vessels with an aggregate capacity of 791,716 deadweight tons.

What kind of products does Imperial Petroleum Inc transport?

Imperial Petroleum Inc carries refined petroleum products, edible oils, and chemicals.

How can I contact Imperial Petroleum Inc for further information?

You can reach out to Fenia Sakellaris at info@imperialpetro.com for any inquiries regarding Imperial Petroleum Inc.

Where is Imperial Petroleum Inc headquartered?

Imperial Petroleum Inc is based out of 4180 Luna Pier Rd, Luna Pier, Michigan, United States.

What are the symbols for Imperial Petroleum Inc's common stock and preferred stock?

The symbols for Imperial Petroleum Inc's common stock and preferred stock are “IMPP” and “IMPPP” respectively.

What is the core business of Imperial Petroleum Inc?

Imperial Petroleum Inc's core business involves providing seaborne transportation services for petroleum products, crude oil, and drybulk commodities.

What recent expansion plans has Imperial Petroleum Inc announced?

Imperial Petroleum Inc has announced the acquisition of two additional tankers, expanding its fleet and capacity.

Imperial Petroleum Inc. 8.75% Series A Cumulative Redeemable Perpetual Preferred Shares

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