Dorian LPG is rewarding shareholders with an extraordinary dividend of $40.6m.
The best-performing US-listed shipping stock in 2023 said the board has declared an irregular cash dividend of $1 per share.
LPG companies made huge profits last year and were among the top stocks in New York and Oslo. The gas market rally was fuelled by Panama Canal disruptions and rising US Gulf exports.
The shares of the Connecticut-based company gained 131.5% last year and 152.6% when taking into account dividends. The stock reached a new high on 5 January but has dropped about 17.5% since then.
The dividend is payable on or about 27 February to all shareholders of record as of the close of business on 5 February.
Dorian LPG’s fleet consists of 25 VLGCs, including four dual-fuel LPG vessels.
