Tufton Oceanic Assets Ltd. NAV, Dividend Declaration and Q1 2021 Update (2312W)
April 22 2021 - 01:00AM
UK Regulatory
TIDMSHIP
RNS Number : 2312W
Tufton Oceanic Assets Ltd.
22 April 2021
22 April 2021
TUFTON OCEANIC ASSETS LIMITED
("Tufton Oceanic Assets" or the "Company")
Net Asset Value, Dividend Declaration and Q1 2021 Update
Tufton Oceanic Assets announces that as at 31 March 2021, the
unaudited net asset value ("NAV") was $284.44 million and the
unaudited NAV per ordinary share was $1.053. The NAV total return
for the quarter was 9.1%.
The Company is pleased to announce a dividend of $0.01875 per
ordinary share for the quarter ending 31 March 2021. The dividend
will be paid on 14 May 2021 to holders of ordinary shares recorded
on the register as at close of business on 30 April 2021 with an
ex-dividend date of 29 April 2021. The Company continues to target
a total annual dividend of $0.075 per share and is forecast to have
a dividend cover of c.1.7x over the next 18 months and an average
expected charter length of c.2.5 years (EBITDA weighted).
The Company's quarterly factsheet as at 31 March 2021 will
shortly be available on the Company's website in the Investor
Relations section under Company Documents at
www.tuftonoceanicassets.com/quarterly-reports .
For further information, please contact:
Tufton Investment Management Ltd
Andrew Hampson
Paulo Almeida +44 (0) 20 7518 6700
N+1 Singer
James Maxwell, Alex Bond (Corporate
Finance)
Alan Geeves, James Waterlow, Sam Greatrex
(Sales) +44 (0) 20 7496 3000
Hudnall Capital LLP +44 (0) 20 7520 9085
Andrew Cade
About the Company
Tufton Oceanic Assets Limited invests in a diversified portfolio
of secondhand commercial sea-going vessels with the objective of
delivering strong cash flow and capital gains to investors. The
Company's investment manager is Tufton Investment Management Ltd.
The Company has raised a total of approximately $265m (gross)
through its Initial Public Offering on the Specialist Fund Segment
of the London Stock Exchange, on 20 December 2017, a subsequent
placing and offer in October 2018, a placing in March 2019, a
placing in September 2019 and a tap issue in March 2021.
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END
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