Taylor Maritime Investments Limited Dividend Declaration (4771H)
28 Julio 2023 - 1:01AM
UK Regulatory
TIDMTMIP TIDMTMI
RNS Number : 4771H
Taylor Maritime Investments Limited
28 July 2023
28 July 2023
Taylor Maritime Investments Limited (the "Company")
Dividend Declaration
The Board of Taylor Maritime Investments Limited ("TMI" or the
"Company"), the listed specialist dry bulk shipping company, is
pleased to declare an interim dividend in respect of the period to
30 June 2023 of 2 US cents per ordinary share:
Ex Date: 10 August 2023
Record Date: 11 August 2023
Last day for currency 14 August 2023
elections: 30 August 2023
Payment Date:
The default 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 IR@tminvestments.com
Limited
Edward Buttery
Camilla Pierrepont
Jefferies International Limited
Stuart Klein
Gaudi Le Roux +44 20 7029 8000
Montfort Communications TMI@montfort.london
Alison Allfrey
George Morris Seers
Sanne Fund Services (Guernsey)
Limited
Matt Falla +44 1481 737600
Notes to Editors
About the Company
Taylor Maritime Investments Limited is an internally managed
investment company listed on the Premium Segment of the Official
List, its shares trading on the Main Market of the London Stock
Exchange since May 2021. The Company specializes in the acquisition
and chartering of vessels in the Handysize and Supramax bulk
carrier segments of the global shipping sector. The Company invests
in a diversified portfolio of vessels which are primarily
second-hand. TMI's fleet portfolio currently numbers 22 vessels in
the geared dry bulk segment. The ships are employed utilising a
variety of employment/charter strategies.
On 20 December, the Company announced it acquired a controlling
majority interest in Grindrod Shipping Holdings Ltd ("Grindrod")
(NASDAQ:GRIN, JSE:GSH), a Singapore incorporated, dual listed
company on NASDAQ and the Johannesburg Stock Exchange. Grindrod
currently owns 21 geared dry bulk vessels complementary to the
Company's fleet. They are mostly Japanese built, including 13
Handysize vessels and 8 Supra/Ultramax vessels. Grindrod has seven
vessels in its chartered in fleet with purchase options on
four.
The combined TMI and Grindrod fleet numbers 47 vessels
(excluding three long term chartered in vessels without purchase
options).
The Company's target dividend policy is 8 cents p.a. paid on a
quarterly basis, with a targeted total NAV return of 10-12% per
annum over the medium to long-term.
The Company has the benefit of an experienced Executive Team led
by Edward Buttery and who previously worked closely together at 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
industry professionals are based in Hong Kong, Singapore and
London.
For more information, please visit
www.taylormaritimeinvestments.com .
About Geared Vessels
Geared vessels are characterised by their own loading equipment.
The Handysize and Supra/Ultramax market segments are 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 and stability of
earnings through the cycle.
IMPORTANT NOTICE
The information in this announcement may include forward-looking
statements, which are based on the current expectations and
projections about future events and in certain cases can be
identified by the use of terms such as "may", "will", "should",
"expect", "anticipate", "project", "estimate", "intend",
"continue", "target", "believe" (or the negatives thereon) or other
variations thereon or comparable terminology. These forward-looking
statements are subject to risks, uncertainties and assumptions
about the Company, including, among other things, the development
of its business, trends in its operating industry, and future
capital expenditures and acquisitions. In light of these risks,
uncertainties and assumptions, the events in the forward-looking
statements may not occur.
References to target dividend yields and returns are targets
only and not profit forecasts and there can be no assurance that
these will be achieved.
LEI: 213800FELXGYTYJBBG50
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END
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