Dorian LPG, a leading owner and operator of modern very large gas carriers, announced that its Board of Directors has declared an irregular cash dividend of $0.60 per share of the Company’s common stock, returning approximately $25.6 million of capital to shareholders and reported its financial results for the three months ended June 30, 2025. The dividend is payable on or about August 27, 2025 to all shareholders of record as of the close of business on August 12, 2025.
Key Recent Development
- Declared an irregular dividend totaling approximately $25.6 million, or $0.60 per share, to be paid on or about August 27, 2025 to shareholders of record as of August 12, 2025.
Highlights for the First Quarter Fiscal Year 2026
- Revenues of $84.2 million.
- Time Charter Equivalent (“TCE”)(1) rate per available day for our fleet of $39,726.
- Net income of $10.1 million, or $0.24 earnings per diluted share (“EPS”), and adjusted net income(1) of $11.3 million, or $0.27 adjusted earnings per diluted share (“adjusted EPS”).(1)
- Adjusted EBITDA(1) of $38.6 million.
- Declared and paid an irregular cash dividend totaling $21.3 million in May 2025.
(1) TCE, adjusted net income, adjusted EPS and adjusted EBITDA are non-U.S. GAAP measures. Refer to the reconciliation of revenues to TCE, net income to adjusted net income, EPS to adjusted EPS and net income to adjusted EBITDA included in this press release under the heading “Financial Information.”
John C. Hadjipateras, Chairman, President and Chief Executive Officer of the Company, commented, “Our results for the reporting quarter were impacted by a heavy drydocking schedule as well as the market. Volatility, which is ever present in freight markets, has been more acute in reaction to recent abrupt geopolitical movements. Our bookings for the current quarter are at strong rates supporting our positive outlook which is rooted in our confidence in the resilience and the fundamentals of the LPG trade. As always, I am grateful to and commend our seafarers and shore staff for their commitment to our mission to provide safe, reliable, clean, and trouble-free transportation.”