Dorian LPG declares an irregular dividend of $1.00 per share



STAMFORD, Conn. – Dorian LPG Ltd. (NYSE: ), a leading liquefied petroleum gas transportation company, today announced an irregular cash dividend of $1.00 per share of its common stock. The stock will distribute approximately $40.6 million to shareholders of record before the close of business on May 8, 2024, with a payment date scheduled for approximately May 30, 2024.

Declaring a dividend is at the discretion of a company's board of directors, who consider a variety of factors in making its decision. These factors include Dorian LPG's operating results, financial condition, debt levels, anticipated capital requirements, existing contractual and legal restrictions and future business prospects.

The company's board of directors retains the power to determine the declaration and payment of dividends and may make adjustments based on the company's performance and other relevant considerations. The dividend announcement is classified as an irregular dividend, indicating that it does not necessarily set a precedent for future dividend payments.

Investors are cautioned that forward-looking statements in press releases, such as expectations for future dividends, involve inherent risks and uncertainties. Dorian LPG's actual future financial condition and results may differ materially from those projected as a result of a variety of factors, some of which are beyond the company's control.

Dorian LPG operates a modern fleet of 25 very large natural gas carriers (VLGCs) located in Stamford, Connecticut; Copenhagen, Denmark; and Athens, Greece. The Company's forward-looking statements are based on expectations currently believed to be reasonable but are not guarantees of future performance.

This announcement is based on a press release from Dorian LPG Ltd. and does not imply an ongoing commitment to future dividends nor does it reflect any assumptions about the company's future financial performance.

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Investment Professional Insights

Dorian LPG Ltd. (NYSE: LPG) recently announced an irregular cash dividend, which has caught the attention of investors, signaling underlying confidence in its financial stability and future prospects. The move is consistent with the company's impressive performance metrics over the past year, as reflected in InvestingPro's live data.

With a strong market capitalization of approximately $1.7 billion and an impressive price-to-earnings ratio of 5.52, Dorian LPG stands out in the shipping industry. Revenue grew significantly over the past 12 months ending in Q3 2024, further underscoring the health of the company's financial position.

In addition to its attractiveness to shareholders, Dorian LPG also boasts a high dividend yield of 9.57% as of the latest data, which complements the impressive total price return of 123.58% in the same period last year.

This level of performance demonstrates the company's operational efficiency and market position. Additionally, InvestingPro Tip suggests that Dorian LPG paid a substantial dividend to shareholders, which is now reflected in the latest dividend payment announcement.

For those considering a deeper investment in Dorian LPG, there are other InvestingPro Tips available that can provide further insight into the company's performance and prospects. There are currently 8 additional tips listed on InvestingPro, which can be accessed via the dedicated Dorian LPG product page: https://www.investing.com/pro/LPG.Prospective and current investors can use coupon codes PRONEWS24 Annual or bi-annual Pro and Pro+ subscriptions receive an additional 10% discount to gain a more complete view of a company's investment potential.

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