Philly Shipyard ASA announces distribution of extraordinary dividend
Reference is made to the second quarter report of Philly Shipyard ASA , where Philly Shipyard announced its intention to pay additional extraordinary dividend following the deliveries of Hulls 024 and 025. Following the delivery of Hull 024 to Crowley and the buy-out of Philly Shipyard’s joint venture interest in that vessel by Marathon, Philly Shipyard has a solid cash position to pay an extraordinary distribution of dividend to Philly Shipyard’s shareholders.
The Board of Directors has therefore resolved to propose that the general meeting of Philly Shipyard approves an extraordinary dividend of USD 3.00 per share. The extraordinary general meeting will be held on September 12, 2016 at 14:30h (CET) at Advokatfirmaet BA-HR DA, Tjuvholmen allé 16, 0252 Oslo, Norway.
Philly Shipyard is a leading U.S. commercial shipyard constructing vessels for operation in the Jones Act market. It possesses a state-of-the-art shipbuilding facility and has earned a reputation as the preferred provider of oceangoing merchant vessels with a track record of delivering quality ships. Philly Shipyard is listed on the Oslo Stock Exchange and is majority-owned by Aker Capital II AS, which in turn is owned by Aker ASA. Aker is a Norwegian industrial investment company that creates value through active ownership. Aker's investment portfolio is concentrated on key Norwegian industries that are international in scope: oil and gas, fisheries and biotechnology, and marine assets. Aker's industrial holdings comprise ownership interests in Aker Solutions, Kvaerner, Det norske oljeselskap, Aker BioMarine, Ocean Yield, Havfisk and Akastor.
