The spread of the corona virus combined with a significant drop in the oil price have created substantial market volatility. With 68 out of 72 vessels on long term fixed rate charter Ocean Yield has a diversified risk exposure with 18 different counterparties.
Ocean Yield has paid dividends every quarter since the company was listed in 2013, and the focus on payment of dividends will be continued. Due to the extraordinary market volatility and the unknown outcome of the current macro and COVID19 situation, it is expected that the dividend per share in Q1 2020 will be lower than earlier guiding. The dividend for Q1 2020 will be decided by the Board of Directors on the 5th of May 2020 and published together with the Q1 Report.
Eirik Eide (CFO), Tel +47 24 13 01 91
Investor Relations contact:
Marius Magelie (SVP Finance & Investor Relations), Tel +47 24 13 01 82
Ocean Yield ASA is a ship owning company with investments in vessels on long-term charters. The company has a significant contract backlog that offers visibility with respect to future earnings and dividend capacity.