Dorian LPG Ltd. Declares Cash Dividend of $2.50 per share

Rhea-AI Summary

Dorian LPG Ltd. (NYSE: LPG) announced a cash dividend of $2.50 per share, totaling over $100.3 million returned to shareholders. This dividend is payable on or about June 2, 2022 to shareholders of record by May 16, 2022. The declaration is considered irregular and future dividends will depend on the Company’s financial condition, operational results, and various other factors. Caution is advised, as forward-looking statements may not guarantee future outcomes, given inherent uncertainties.

Positive

• Cash dividend of $2.50 per share.
• Return of over $100.3 million to shareholders.

Negative

• Irregular dividend declaration raises concerns about future sustainability.
• Future dividends are subject to various uncertainties and may not be assured.

STAMFORD, Conn., May 4, 2022 /PRNewswire/ -- Dorian LPG Ltd. (NYSE: LPG) (the "Company" or "Dorian LPG"), a leading owner and operator of 22 modern and ECO very large gas carriers ("VLGCs"), today announced that its Board of Directors has declared a cash dividend of $2.50 per share of the Company's common stock, returning over $100.3 million of capital to shareholders. The dividend is payable on or about June 2, 2022 to all shareholders of record as of the close of business on May 16, 2022.

Forward-Looking & Other Cautionary Statements

This is an irregular dividend. Future declarations of dividends are subject to the determination and discretion of the Company's Board of Directors based on its consideration of various factors, including the Company's results of operations, financial condition, level of indebtedness, anticipated capital requirements, contractual restrictions, restrictions in its debt agreements, restrictions under applicable law, its business prospects and other factors that the Company's Board of Directors may deem relevant.

This press release contains "forward-looking statements." Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "projects," "forecasts," "may," "will," "should" and similar expressions are forward-looking statements. These statements are not historical facts but instead represent only the Company's current expectations and observations regarding future results, many of which, by their nature are inherently uncertain and outside of the Company's control. Where the Company expresses an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, the Company's forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by those forward-looking statements. The Company's actual results may differ, possibly materially, from those anticipated in these forward-looking statements as a result of certain factors, including changes in the Company's financial resources and operational capabilities and as a result of certain other factors listed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. For more information about risks and uncertainties associated with Dorian LPG's business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of Dorian LPG's SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. The Company does not assume any obligation to update the information contained in this press release.

About Dorian LPG Ltd.

Dorian LPG has offices in Stamford, Connecticut, USA; Copenhagen, Denmark; and Athens, Greece.

Visit our website at www.dorianlpg.com

For further information:
Dorian LPG Ltd.
Ted Young - Chief Financial Officer
(203) 674-9900
IR@dorianlpg.com

Source: Dorian LPG Ltd.

View original content:https://www.prnewswire.com/news-releases/dorian-lpg-ltd-declares-cash-dividend-of-2-50-per-share-301540083.html

SOURCE Dorian LPG Ltd.

FAQ

What is the dividend amount declared by Dorian LPG on May 4, 2022?

Dorian LPG declared a cash dividend of $2.50 per share on May 4, 2022.

When will the Dorian LPG dividend be paid?

The dividend is payable on or about June 2, 2022.

What factors affect Dorian LPG's future dividend declarations?

Future dividend declarations will depend on the Company's financial results, condition, operational performance, and other relevant factors.

Who is eligible for the Dorian LPG dividend?

Shareholders of record as of May 16, 2022, are eligible for the dividend.

What is the total amount returned to shareholders as a dividend?

Dorian LPG is returning over $100.3 million to its shareholders.