TMI Taylor Maritime Investments Limited

TIDMTMIP TIDMTMI

RNS Number : 3550Q

Taylor Maritime Investments Limited

27 October 2021

27 October 2021

Taylor Maritime Investments Limited (the "Company")

Dividend Declaration

The Board of Taylor Maritime Investments Limited ("TMI"), the listed specialist dry bulk shipping company, is pleased to declare an interim dividend in respect of the period to 30 September 2021 of 1.75 US Cents per ordinary share.

 
 Ex Date:                 4 November 2021 
  Record Date:             5 November 2021 
  Last day for currency    8 November 2021 
  elections:               24 November 2021 
  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 will be sent to all shareholders by post, but will also be available for download 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.

LEI: 213800FELXGYTYJBBG50

ENDS

 
For further information, please contact: 
 Taylor Maritime Investments      +852 2252 3882 
  Limited                          info@tminvestments.com 
  Edward Buttery 
  Alexander Slee 
 Jefferies International Limited  +44 20 7029 8000 
  Investment Banking 
  Stuart Klein 
  Gaudi Le Roux 
 
  Sector coverage 
  Doug Mavrinac 
  Hugh Eden 
 
  Montfort Communications 
  Nick Bastin                      TMI@montfort.london 
  Alison Allfrey 
  Miles McKechnie 
 
 
 

About the Company

Taylor Maritime Investments Limited is a recently established, internally managed investment company listed on the Premium Listing Category 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. and were acquired at valuations that are expected to be below long-term average prices.

The Company's initial investments comprise Geared Bulk Carriers (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. Once the Company is fully invested, the Company will target 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 previously 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. These "Geared" vessels, which have their own loading equipment, are mostly acquired second-hand, leveraging valuations that are below long-term average prices. 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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October 27, 2021 02:00 ET (06:00 GMT)

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