At the current share price, the total dividend yield would be 7%. Note that the ex-dividend date is 17 July 2019.

AD Plastik held a Supervisory Board meeting in which the company proposed a dividend of HRK 12.5 per share minus advance payment paid out in the amount of HRK 3 per share. As a reminder, earlier this year, the company proposed an advance dividend of HRK 3.00 per share this year, whose ex-dividend date was 8 March 2019.

At the current share price, the total dividend yield would be 7%. Note that the ex-dividend date is 17 July 2019.

In the graphs below, we are brining you a historical overview of the company’s dividends per share and dividend yield.

The tanker will be chartered out to a leading U.S. charterer at approximately USD 17,100 per day under regular market terms.

Tankerska Next Generation published a document stating that they have secured an additional 6-month time charter for one of its ECO class product tankers with charterers’ option to extend for up to 12 months.

The tanker will be chartered out to a leading U.S. charterer at approximately USD 17,100 per day under regular market terms. The contracted employment is with immediate effect.

As a reminder, earlier this month, TNG secured a 6 to 12-month time charter employment in charterers’ option for one of the ECO class product tankers which will be charted for USD 17,000 per day.  

Also, this year, TNG secured two 12-month time charter employment for product tankers which will be charted at approximately USD 16,000 per day and USD 15,500 per day. Besides that, last year the company contracted USD 14,500 a day for the ship Vinjerac, expiring in Q2 2019.

Our view on the new charter

We are happy to see another vessel contracted at a favorable rate, as it might signal market improvement in 2019. A quick calculation based on 2018 results (so assuming daily opex of USD 6,755 per ship, G&A of USD 903k, D&A slightly below USD 8m and interest expense slightly below USD 4m) makes us conclude the following:

• TNG records EBITDA breakeven at average TCE of roughly USD 7,200;
• TNG records net income breakeven at average TCE of roughly USD 12,600 per day;
• An average TCE of 14,500 a day could earn EBITDA of USD 16m and net profit of USD 4m (HRK 3.1 EPS).