Dorian LPG declares $42.8 million irregular dividend

• Dorian LPG declared an irregular cash dividend of $1.00 per share to return $42.8 million to investors.
• The company completed the sale of its 2014 built VLGC Corsair for $81.8 million in cash proceeds.
• The business stated that the associated asset debt of $24.2 million was fully repaid last quarter.

Dorian LPG (NYSE:LPG) declared a $1.00 per share irregular cash dividend to return $42.8 million to shareholders.

The capital distribution follows the company completing the strategic sale of its 2014 built VLGC Corsair vessel.

The maritime business generated approximately $81.8 million in total cash proceeds from the recent asset liquidation.

Management confirmed that the associated $24.2 million in corporate debt was fully repaid during the previous quarter.

The payout is set for August 12, and following the announcement the Dorian LPG share price was unchanged at $XX.

The financial distribution will be paid exclusively to corporate shareholders of record as of July 27.

The enterprise continues to operate as a logistics provider specializing in modern very large gas carriers.