Euronav rises after second dividend proposal this year

CMB.TECH NV

08/05/2024 09:03

** Shares in Euronav  EUAV.BR  rise 3.6%, pares gains after
rising as much as 6.2%, after the Belgian tanker company
announced it would propose a second dividend this year
    ** The firm will propose a $1.15 dividend per share during a
special shareholders' meeting in July
    ** It had already announced a $4.57 dividend per share, to
be proposed on May 16 during the annual general meeting
    ** "The 1Q24 dps proposal of $1.15 was a positive surprise
next to the favourable outlook for the crude tanker & dry bulk
segment", KBC Securities analyst Kristof Samoy says
    ** Euronav expects the dry-bulk markets division to grow
2.1% in 2024 and 1.3% in 2025
    ** For the tanker markets division, the firm flags that "the
International Energy Agency (IEA) has recently revised the 2024
global oil demand upwards by +110kb/d, projecting a continued
growth trajectory"
    ** Including today's rise the stock has gained 4.01% YTD

 (Reporting by Gaëlle Sheehan)
 ((gaelle.sheehan@thomsonreuters.com; +48 58 7785110;))