The Braemar Shipping Board has declared an interim dividend of 5.0p per share (full year 2018/19: 15.0p, half year 2018/19: 5.0p). This is a reflection of the current positive shipbroking market and the Board will continue to keep the future dividend policy under review. This interim dividend will be paid on 13 December 2019 to shareholders on the register at the close of business on 1 November 2019. The last date for Dividend Reinvestment Plan (DRIP) elections will be 22 November 2019.
Other financial highlights include:
Revenue in the first half was £59.5 million, showing growth of 4%
Underlying operating profit from continuing operations maintained at £3.7 million (Reported operating loss reduced from £2.3 million to £1.1 million)
Net debt of £18.8 million (2018: £9.3 million) from increased utilisation of revolving credit facility
Trading for the full financial year remains in line with current expectations