OSLO, Norway, Feb. 2, 2022 /PRNewswire/ -- MPC Container Ships ASA ("MPCC" or the "Company", and together with its subsidiaries, the "Group") is pleased to announce that its board of directors has resolved to distribute a dividend of NOK 3.00 per share, in total NOK 1.33 billion, based on the Company's approved annual account for the financial year 2020. The decision is based on an authority granted by the Company's extraordinary general meeting on 28 January 2022. An announcement of key information relating to the dividend payment will be published separately.
Constantin Baack, Chief Executive Officer of MPC Container Ships commented: "Over the past quarters we have continued to execute on our chartering strategy and portfolio measures in terms of vessel sales and purchases, whilst constantly optimizing the Group's balance sheet. In tandem, these measures have paved the way for the implementation of the Company's distribution plan.
Today marks another important milestone for MPC Container Ships as we announce the first event-driven distribution to our shareholders of NOK 3 per share or around USD 150 million in total. As previously communicated, the Company will be prioritizing returning capital to investors and it is further planned to also commence with recurring quarterly dividends in March 2022.
In a continuously strong container charter market with increasing forward fixtures, charter periods and historically strong charter rates we will continue to adhere to the principles of transparent, active and rational capital allocation, as demonstrated since the inception of the Company."
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
This stock exchange announcement was published by Andreas Nguyen, Investor Relations at MPC Container Ships ASA, on 2 February 2022 at 11:16 CET.
For further information, please contact ir@mpc-container.com.
About MPC Container Ships ASA:
MPC Container Ships ASA (ticker code "MPCC") is a leading container tonnage provider with a focus on the feeder segment below 5,000 TEU. Its main activity is to own and operate a portfolio of container ships serving intra-regional trade lanes on fixed-rate charters. The Company is registered and has its business office in Oslo, Norway. For more information, please see our website: www.mpc-container.com.
Forward-looking statements:
This announcement includes forward-looking statements. Such statements are generally not historical in nature, and specifically include statements about the Company's plans, strategies, business prospects, changes and trends in its business, the markets in which it operates and its restructuring efforts. These statements are made based upon management's current plans, expectations, assumptions and beliefs concerning future events impacting the Company and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, which speak only as of the date of this news release. Consequently, no forward-looking statement can be guaranteed. When considering these forward-looking statements, you should keep in mind the risks described from time to time in the Company's regulatory filings and periodical reporting. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for the Company to predict all of these factors. Further, the Company cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement.
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