Brief: BW LPG Declares Q1 Cash Dividend Of $0.95 Per Share

BW LPG

23/05/2023 06:37

May 23 (Reuters) - BW LPG Ltd  BWLPG.OL :
    * BW LPG'S FINANCIAL RESULTS FOR Q1 2023
    * DECLARED Q1 CASH DIVIDEND OF USD 0.95 (NOK 10.33) PER
SHARE,
REPRESENTING A PAY-OUT RATIO OF 100% OF NPAT AND AN ANNUALISED
DIVIDEND YIELD OF 43%
    * NET LEVERAGE RATIO WAS DOWN TO 21% IN Q1 2023, MAINLY DUE
TO
SOLID CASH FLOWS FROM OPERATIONS AND INVESTING ACTIVITIES
    * Q1 2023 VLGC FREIGHT RATES AVERAGED USD 58,700 PER
CALENDAR DAY,
OR USD 60,900 PER AVAILABLE DAY WITH 97% COMMERCIAL UTILISATION
    * TCE INCOME FOR SHIPPING SEGMENT WAS USD 200 MILLION FOR
Q1,
MAINLY DUE TO HIGHER LPG SPOT RATES AND HIGHER FLEET UTILISATION
    * MARKET OUTLOOK: FOR 2023, VLGC MARKET LOOKS STRONG BUT
VOLATILE

Source text for Eikon:  ID:nObi1fW8qa 
Further company coverage:  BWLPG.OL 

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