Dorian Lpg Ltd Stock Price, News & Analysis

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.

Dorian LPG Ltd. (NYSE: LPG) announced the completion of two Japanese financing transactions totaling approximately $136.4 million on March 29 and 31, 2022. The first transaction involved the sale and bareboat charter of the VLGC Chaparral for $64.9 million, with $24.0 million allocated to prepay existing debt. The second transaction concerned the VLGC Caravelle, resulting in cash proceeds of $50.0 million and a similar debt repayment structure. Both arrangements support general corporate purposes and have multi-year terms with purchase options.

Dorian LPG Ltd. announced the completion of two Japanese financing transactions on March 18, 2022, involving its 2015-built VLGCs, Cratis and Copernicus, totaling $100 million. Proceeds included $50.6 million for debt repayment and the remainder for corporate purposes. Additionally, the company sold its 2008-built VLGC, Captain Nicholas ML, for $48.1 million. Each financing has a nine-year term with a fixed interest rate of 4.1% and amortizes $340,000 monthly.

Dorian LPG reported Q3 FY2022 results, revealing revenues of $68.6 million, down 22.5% from $88.5 million in Q3 FY2021. The Time Charter Equivalent (TCE) rate decreased by 20.8% to $33,508. Net income stood at $16.6 million, or $0.41 EPS, reflecting a significant drop from $35.8 million and $0.71 EPS a year ago. The company declared a $1.00 cash dividend per share in January 2022 and authorized a $100 million share repurchase. Fleet utilization improved to 98.5% from 96.2%.

Dorian LPG Ltd. (NYSE: LPG) has provided a financial update for the quarter ending December 31, 2021. The Company anticipates time charter equivalent revenues between $66.8 million and $68.8 million. Vessel operating expenses are expected to be between $17.2 million and $19.2 million, while general and administrative expenses are projected between $5.4 million and $6.4 million. The earnings conference call is scheduled for February 3, 2022, at 10:00 a.m. ET, with a live webcast available on their website.

Dorian LPG Ltd. (NYSE: LPG) declared a cash dividend of $1.00 per share, totaling over $40.1 million for shareholders, payable on January 25, 2022, to shareholders of record by January 14, 2022. Additionally, the company completed a refinancing of its debt secured by two vessels, with a new loan of $83.4 million at a fixed rate of 3.78% over five years, yielding $33.9 million in cash proceeds after settling existing debts.

Dorian LPG Ltd. (NYSE: LPG) reported financial results for Q2 FY 2022, with revenues of $63.1 million, up from $54.7 million YoY. Net income rose to $14.1 million or $0.35 EPS, compared to $0.5 million or $0.01 EPS last year. Adjusted net income was $9.9 million, versus a loss of $3.4 million in Q2 FY 2021. The company declared a $1.00 dividend per share for shareholders as of August 9, 2021. Dorian LPG completed the sale of a vessel for $43.4 million, netting a $3.5 million gain. TCE rate increased to $30,996, reflecting a strong market position.

Dorian LPG Ltd. (NYSE: LPG) has updated its financial and operational outlook for the quarter ended September 30, 2021. The Company anticipates time charter equivalent (TCE) revenues between $61 million and $63 million, with vessel operating expenses of $17.4 million to $19.4 million. The conference call to discuss these results will be held on November 3, 2021 at 10:00 a.m. ET. The Company reminds shareholders that this information is preliminary and subject to adjustments, reflecting potential changes in financial results.

Dorian LPG Ltd. (NYSE: LPG) has announced the sale of its VLGC, Captain Markos NL, a debt-free vessel built in 2006. The company expects to deliver the vessel by August 31, 2021, and anticipates cash proceeds of $42.0 million to $43.0 million. Following this transaction, Dorian LPG's fleet will consist of 22 modern VLGCs, reinforcing its position in the liquefied petroleum gas shipping sector.