TMI Taylor Maritime Investments Limited

TIDMTMIP TIDMTMI

RNS Number : 5399K

Taylor Maritime Investments Limited

06 May 2022

6 May 2022

Taylor Maritime Investments Limited

Special Dividend Declaration

The Board of Taylor Maritime Investments Limited ("TMI" or the "Company"), the listed specialist dry bulk shipping company, is pleased to declare a special interim dividend in respect of the period to 31 March 2022 of 3.22 US cents per ordinary share .

This takes the total dividends declared for the period from IPO to 31 March 2022 to 8.47 US cents per ordinary share, representing a dividend yield on the Initial Issue Price of approximately 10% on an annualised basis.

 
 Ex Date:                 19 May 2022 
  Record Date:             20 May 2022 
  Last day for currency    23 May 2022 
   elections: 
  Payment Date:            10 June 2022 
 

Commenting on the special interim dividend, Edward Buttery, Chief Executive Officer, said:

"The Board's approval of a special dividend reflects excess cash generation in what continues to be a historically strong market and we are delighted to be able to return this capital to shareholders in a timely manner."

The payment for dividends remains in US Dollar, however, dividends are capable of being paid in sterling, provided that the relevant shareholder has registered to receive their dividend in sterling under the Company's Dividend Currency Election. A copy of the Dividend Currency Election form can be downloaded from the Company's website www.taylormaritimeinvestments.com . Completed Dividend Currency Election forms should be sent to the Company's registrar, Computershare Investor Services (Guernsey) Limited, c/o The Pavilions, Bridgwater Road, Bristol, BS99 6ZY. CREST shareholders must elect via CREST.

Non-CREST shareholders wishing to receive Company dividends by electronic funds transfer directly to their bank accounts can register for Computershare's Global Payment Service at www.investorcentre.co.uk .

ENDS

For further information, please contact:

 
Taylor Maritime Investments Limited   IR@tminvestments.com 
 Edward Buttery 
 Alexander Slee 
Jefferies International Limited 
 Investment Banking 
 Stuart Klein 
 Gaudi Le Roux                        +44 20 7029 8000 
Montfort Communications               TMI@montfort.london 
 Alison Allfrey 
 George Morris Seers 
 

Notes to editors

About the Company

Taylor Maritime Investments Limited is a recently established, internally managed investment company listed on the Premium Segment of the Official List and traded on the Main Market of the London Stock Exchange. The Company invests in a diversified portfolio of vessels which are primarily second-hand and which, historically, have demonstrated average yields in excess of the Company's target dividend yield of 7% p.a. (on the Initial Issue Price).

The Company's initial investments comprise Geared Ships (Handysize and Supramax types) employed utilising a variety of employment/Charter strategies.

The Company intends to pay dividends on a quarterly basis with dividends declared in January, April, July and October. The Company targets a Total NAV Return of 10 to 12% p.a. (net of expenses and fees but excluding any tax payable by Shareholders) over the medium to long-term.

The Company has the benefit of an experienced Executive Team led by Edward Buttery. The Executive Team have to date worked closely together for the Commercial Manager, Taylor Maritime. Established in 2014, Taylor Maritime is a privately owned ship-owning and management business with a seasoned team that includes the founders of dry bulk shipping company Pacific Basin Shipping (listed in Hong Kong 2343.HK) and gas shipping company BW Epic Kosan (formerly Epic Shipping) (listed in Oslo BWEK:NO). Taylor Maritime's team of experienced industry professionals are based in Hong Kong and London.

For more information, please visit www.taylormaritimeinvestments.com .

About Geared Vessels

The Company specializes in the acquisition and chartering of vessels in the Handysize and Supramax bulk carrier segments of the global shipping sector. Geared vessels are characterised by their own loading equipment. The Handysize market segment is particularly attractive, given the flexibility, versatility and port accessibility of these vessels which carry necessity goods - principally food and products related to infrastructure building - ensuring broad diversification of fleet activity.

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END

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