Dorian LPG Ltd. Announces $0.70 Irregular Cash Dividend

Overview of Dorian LPG Ltd.'s Latest Dividend Declaration

Dorian LPG Ltd. (NYSE: LPG) has made headlines recently with the declaration of an irregular cash dividend amounting to $0.70 per share. This significant move aims to return approximately $30 million to its shareholders. As transparency is a core value for the Company, this announcement reflects their commitment to maintaining open communication with investors and stakeholders.

Financial Outlook for the Upcoming Quarter

Turning the spotlight now to the financial updates for the quarter ending December 31, 2024, Dorian LPG has provided preliminary insights into its performance. The Company expects the time charter equivalent revenues to range between $78.7 million and $80.7 million. This outlook signals a substantial revenue generation from the Company’s fleet, consisting of twenty-five modern Very Large Gas Carriers (VLGCs), which facilitate the global transport of liquefied petroleum gas. The financial highlights may include:

Operational Insights and Revenue Projections

Vessel operating expenses for the quarter are anticipated to be between $20.4 million and $22.4 million, reflecting the operational costs associated with the fleet management and maintenance. Furthermore, estimated charter hire expenses are projected from $9.6 million to $11.6 million, which involves the costs incurred for chartering vessels to maintain operational efficiency. This projection provides valuable insights into the Company's expense management strategy in the upcoming period.

General & Administrative Expenses Analysis

Administrative expenses are estimated to fall between $4.8 million and $6.8 million, not including any stock-based compensation. Such insights help stakeholders grasp the financial discipline Dorian LPG keeps in managing overhead costs while investing in necessary capital for future growth. Stock-based compensation is also expected to be in the range of $1.5 million to $1.9 million, reflecting the Company's commitment to aligning employee interests with those of its shareholders.

Earnings Conference Call Details

To elaborate on these developments and discuss the financial results, Dorian LPG will host an earnings conference call on January 31, 2025, at 10:00 a.m. ET. This call serves as a platform for the management team to engage with analysts and investors, addressing any questions regarding the financial projections and operational performance. Participants can dial in using specific numbers allocated for domestic and international calls.

About Dorian LPG Ltd.

Headquartered in Stamford, Connecticut, Dorian LPG is recognized as a leading owner and operator of modern VLGCs. The Company not only oversees a fleet of twenty-five vessels but also has a marketing presence in key global locations. Their strategic positioning and operational capacity allow them to meet the increasing global demand for liquefied petroleum gas transport.

Continued Shareholder Value Focus

Dorian LPG's recent actions demonstrate its objective to enhance shareholder value through regular updates and the declaration of dividends. The Board of Directors maintains discretion regarding future dividends, influenced by various factors, including operational results and financial health. This careful evaluation underscores the Company’s strategic foresight and commitment to its investors.

Frequently Asked Questions

What is the cash dividend declared by Dorian LPG Ltd.?

The declared cash dividend is $0.70 per share.

When will the dividend be payable?

The dividend is expected to be payable on or about February 27, 2025.

How many ships are in Dorian LPG's fleet?

Dorian LPG operates a fleet consisting of twenty-five modern Very Large Gas Carriers.

What is the expected range for the Company's time charter equivalent revenues?

The expected range is between $78.7 million and $80.7 million for the quarter ended December 31, 2024.

When is the earnings conference call scheduled?

The earnings conference call is scheduled for January 31, 2025, at 10:00 a.m. ET.

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