(Oslo, Norway ,15 February 2024 )Standard Supply AS (Standard Supply, OSE:STSU) reported an EBITDA ofUSD 1.5 million in the fourth quarter of 2023. Time charter equivalent earnings (TCE) wereUSD 16,900 per day and the utilization was 100% based on availability. This excludes off hire from Standard Supplier afterOctober 27th and reflects the transfer of ownership during the quarter for the Standard Defender, Standard Viking and the four mid-sized vessels. The Board of Directors has declared a dividend distribution ofNOK 2.75 per share for the fourth quarter of 2023. "Standard Supply is distributingNOK 2.75 per share in the fourth quarter of 2023, reflecting liquidity at hand. Around 95% of the IPO has now been distributed since the Company was listed in July of 2022. After this distribution, there is currently a remaining value of approximatelyNOK 2.5 per share in the company, split c. 50/ 50 between cash and market value of the remaining vessel Standard Supplier. The Company will actively seek to maximize the remaining value for shareholders", says Martin Nes, Chairman of theBoard of Standard Supply . The Company reported an EBITDA ofUSD 1.5 million in the fourth quarter of 2023, up fromUSD 1.2 million in the same quarter of 2022. At the end of the quarter the Group's consolidated net cash and working capital stood atUSD 90.3 million andUSD 69.7 million when adjusting for ownership As previous disclosed in a stock exchange release17 January 2024 , the sale of Standard Supplier was cancelled due to delays of the repair of the Azimuth thruster. Hence Standard Supplier is the remaining vessel owned by STSU and the vessel was back on hire withBP UK at a rate ofUSD 23,500 per day end ofJanuary 2024 . Based on the fourth quarter results and the authorization to distribute dividends given to the Board of Directors on the annual general meeting, the Board of Directors has passed a resolution to distribute dividends ofNOK 2.75 per share through reduction of other paid-in equity with an ex. date in late February and payment in early March. Further information will be given in due course. The fourth quarter report is enclosed. ENDS For further information, please contact: CEOEspen L. Fjermestad at +47 95 20 44 93 Chairman of the Board Martin Nes at +47 92 01 48 14 standard-supply.com
Click here for more information
© Oslo Bors ASA, source