REG - Taylor Maritime Taylor Maritime -TMI - Dividend Declaration

Taylor MaritimeAnnouncement

24/01/2025 07:00

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RNS Number : 5287U  Taylor Maritime Investments Limited  24 January 2025

24 January 2025

 

Taylor Maritime Investments Limited

 

Dividend Declaration

 

The Board of Taylor Maritime Investments Limited ("TMI" or the "Company"), the
listed specialist dry bulk shipping company, is pleased to declare an interim
dividend in respect of the period to 31 December 2024 of 6 US cents per
ordinary share (comprising an interim dividend of 2 US cents per share and an
additional special interim dividend of 4 US cents per share):

 

 Ex Date:                           6 February 2025

 Record Date:                       7 February 2025

 Last day for currency elections:   10 February 2025

 Payment Date:                      28 February 2025

 

Following the payment of the interim dividend (including the special
dividend), the Company will have paid 14 consecutive quarterly dividends
including two special dividends since IPO amounting to $113.8 million returned
to shareholders.

 

Commenting on the special interim dividend, Edward Buttery, Chief Executive
Officer, said:

 

"The Board is pleased with the support from shareholders to the resolutions
passed on 13 January 2025 for the transfer of the listing of the Company, and
to now confirm the special dividend indicated to the market in December 2024
as a way of returning surplus cash to shareholders who have continued to
support TMI since IPO."

 

The default payment for dividends remains in US Dollar, however, dividends are
capable of being paid in sterling, provided that the relevant shareholder has
registered to receive their dividend in sterling under the Company's Dividend
Currency Election. A copy of the Dividend Currency Election form can be
downloaded from the Company's website www.taylormaritimeinvestments.com
(http://www.taylormaritimeinvestments.com/) . Completed Dividend Currency
Election forms should be sent to the Company's registrar, Computershare
Investor Services (Guernsey) Limited, c/o The Pavilions, Bridgwater Road,
Bristol, BS99 6ZY. CREST shareholders must elect via CREST.

 

Non-CREST shareholders wishing to receive Company dividends by electronic
funds transfer directly to their bank accounts can register for
Computershare's Global Payment Service at www.investorcentre.co.uk
(http://www.investorcentre.co.uk) .

 

ENDS

 

 For further information, please contact:

Taylor Maritime Investments Limited      IR@tminvestments.com (mailto:IR@tminvestments.com)

 Edward Buttery

 Camilla Pierrepont

 Jefferies International Limited          +44 20 7029 8000

 Stuart Klein

 Gaudi Le Roux

 Sanne Fund Services (Guernsey) Limited   +44 20 3530 3107

 Matt Falla

 

Notes to Editors

 

About the Company

Taylor Maritime Investments Limited is an internally managed investment
company listed under the closed-ended investment funds category of the FCA's
UK Listing Rules sourcebook (previously the Premium Segment of the Official
List), with its shares trading on the Main Market of the London Stock Exchange
since May 2021.  The Company specializes in the acquisition and chartering of
vessels in the Handysize and Supra/Ultramax bulk carrier segments of the
global shipping sector.  The Company invests in a diversified portfolio of
vessels which are primarily second-hand and Japanese built.

The Company acquired a controlling stake in Grindrod Shipping Holdings Limited
("Grindrod") in December 2022 and, following a Selective Capital Reduction
which took effect on 16 August 2024, Grindrod became a wholly owned subsidiary
of the Company and was delisted from each of Nasdaq and the JSE.  As a
result, the Company, through its subsidiaries, currently has an owned fleet of
31 dry bulk vessels, including one vessel held for sale, consisting of 21
Handysize vessels and 10 Supra/Ultramax vessels (including one vessel under JV
agreement).  The Company also has six vessels in its chartered in fleet. The
ships are employed utilising a variety of employment/charter strategies.

The Company's target dividend policy is 8 cents p.a. paid on a quarterly
basis, with a targeted total NAV return of 10-12% per annum over the medium to
long-term.

For more information, please visit www.taylormaritimeinvestments.com
(http://www.taylormaritimeinvestments.com/) .

About Geared Vessels

Geared vessels are characterised by their own cargo loading and discharging
equipment. The Handysize and Supra/Ultramax market segments are particularly
attractive, given the flexibility, versatility and port accessibility of these
vessels which carry necessity goods - principally food and products related to
infrastructure building - ensuring broad diversification of fleet activity and
stability of earnings through the cycle.

IMPORTANT NOTICE

The information in this announcement may include forward-looking statements,
which are based on the current expectations and projections about future
events and in certain cases can be identified by the use of terms such as
"may", "will", "should", "expect", "anticipate", "project", "estimate",
"intend", "continue", "target", "believe" (or the negatives thereon) or other
variations thereon or comparable terminology. These forward-looking statements
are subject to risks, uncertainties and assumptions about the Company,
including, among other things, the development of its business, trends in its
operating industry, and future capital expenditures and acquisitions. In light
of these risks, uncertainties and assumptions, the events in the
forward-looking statements may not occur.

References to target dividend yields and returns are targets only and not
profit forecasts and there can be no assurance that these will be achieved.

 

LEI: 213800FELXGYTYJBBG50

 

 

 

 

 

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