Atlantic Navigation’s Special Dividend: A Windfall for Shareholders

Atlantic Navigation Holdings (Singapore) Limited has announced a substantial financial reward for its shareholders following the sale of twenty offshore support vessels. The company has confirmed a Proposed Cash Distribution of US\$62 million and a Proposed Special Dividend of US\$58 million, both significant in their potential impact on shareholder value.

Key Points from the Announcement

• The Company has completed the sale of twenty offshore support vessels, which was approved during the Extraordinary General Meeting on 7 October 2024 [[1]].
• A total of US\$62 million (approximately S\$83.04 million) will be distributed to shareholders as part of a cash distribution, equating to US\$0.118 (approximately S\$0.158) per share [[2]].
• A special interim dividend of US\$58 million (approximately S\$77.68 million) will also be distributed, equating to US\$0.111 (approximately S\$0.148) per share [[2]].

Important Information for Shareholders

Shareholders should be aware that the Record Date for determining entitlement to these financial benefits is set for 27 November 2024 at 5.00 p.m. The payments are expected to be made around 5 December 2024 [[2]].

Shareholders with securities accounts credited with ordinary shares by The Central Depository (Pte) Limited (CDP) by the Record Date will receive their entitlements. Those using the Direct Crediting Service will see the payments directly in their bank accounts, while others will receive the amounts through their Securities Accounts or other agreed methods with CDP [[2]].

It is crucial for shareholders holding shares in their own names to ensure their shares are deposited with CDP at least twelve Market Days before the Record Date to facilitate proper crediting [[3]].

Potential Impact on Share Price

This announcement is significant and potentially price-sensitive. The distribution of substantial cash and dividends is likely to enhance shareholder value and could influence the company’s share price positively.

Disclaimer

This article is based on information provided by Atlantic Navigation Holdings and is intended for informational purposes only. It does not constitute financial advice. Investors should conduct their own research or consult with a financial advisor before making investment decisions.

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