Pangaea Logistics Solutions Ltd. Announces Quarterly Cash Dividend

Rhea-AI Summary

Pangaea Logistics Solutions Ltd. (NASDAQ: PANL) declared a quarterly cash dividend of $0.10 per common share, payable on March 15, 2023 to shareholders of record by March 1, 2023. The company offers comprehensive maritime logistics services for industrial customers, specializing in a variety of dry bulk cargoes. This dividend announcement reflects the company's confidence in its financial health and commitment to returning value to shareholders.

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• Quarterly cash dividend of $0.10 per share pays on March 15, 2023.

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• None.

NEWPORT, R.I., Feb. 15, 2023 /PRNewswire/ -- Pangaea Logistics Solutions Ltd. ("Pangaea" or the "Company") (NASDAQ: PANL), a global provider of comprehensive maritime logistics solutions, announced today that its Board of Directors has declared a quarterly cash dividend of $0.10 per common share to be paid on March 15, 2023 to all shareholders of record as of March 1, 2023.

About Pangaea Logistics Solutions Ltd.

Pangaea Logistics Solutions Ltd. (NASDAQ: PANL) provides logistics services to a broad base of industrial customers who require the transportation of a wide variety of dry bulk cargoes, including grains, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone. The Company addresses the transportation needs of its customers with a comprehensive set of services and activities, including cargo loading, cargo discharge, vessel chartering, and voyage planning. Learn more at www.pangaeals.com.

Investor Relations Contacts
Gianni Del Signore	Stefan C. Neely
Chief Financial Officer	Vallum Advisors
401-846-7790	PANL@val-adv.com
Investors@pangaeals.com

Forward-Looking Statements

Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. These forward-looking statements are based on our current expectations and beliefs and are subject to a number of risk factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The Company disclaims any obligation to publicly update or revise these statements whether as a result of new information, future events or otherwise, except as required by law. Such risks and uncertainties include, without limitation, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in our operating expenses, including bunker prices, dry-docking and insurance costs, the market for our vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other factors, as well as other risks that have been included in filings with the Securities and Exchange Commission, all of which are available at www.sec.gov.

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SOURCE Pangaea Logistics Solutions Ltd.

FAQ

What is the dividend amount declared by Pangaea Logistics Solutions Ltd.?

Pangaea Logistics Solutions Ltd. has declared a quarterly cash dividend of $0.10 per common share.

When will the dividend be paid to shareholders of Pangaea Logistics Solutions Ltd.?

The dividend will be paid on March 15, 2023.

What is the record date for the dividend payment from Pangaea Logistics Solutions Ltd.?

The record date for the dividend payment is March 1, 2023.

How often does Pangaea Logistics Solutions Ltd. pay dividends?

Pangaea Logistics Solutions Ltd. pays dividends quarterly.

Is the dividend from Pangaea Logistics Solutions Ltd. sustainable?

The sustainability of the dividend can depend on the company's ongoing financial performance and market conditions.