Dorian LPG declares dividend, anticipates higher expenses
Overview
Gas carrier operator declared irregular cash dividend of $0.70 per share
Company anticipates $1.8 mln increase in general and administrative expenses for Q3
Market rates for December loadings were lower, affecting realized rates
Outlook
Company notes lower market rates for December loadings affecting future revenue
Dorian LPG anticipates increased expenses due to Annual Cash Incentive plan
Result Drivers
LOWER MARKET RATES - Company experienced lower market rates for December loadings, impacting realized rates
UNEXPECTED DELAYS - Fog in the Houston Ship channel led to unexpected waiting time, reducing realized rates
INCREASED EXPENSES - Anticipated $1.8 mln increase in general and administrative expenses due to higher accruals under Annual Cash Incentive plan
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Dividend |
| $0.70 |
|
Press Release: ID:nBwb7XZNDa
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