TAMPA, Fla. - Overseas Shipholding Group, Inc. (NYSE:OSG), a provider of liquid bulk transportation services, announced on Thursday that its Board of Directors has approved a cash dividend of $0.06 per share on its Class A Common Stock. The dividend is payable on April 11, 2024, to shareholders of record as of March 28, 2024.
Sam Norton, President and CEO of OSG, expressed satisfaction with the board's decision, which follows the company's recent earnings report indicating a strong financial position. Norton emphasized the balance between rewarding shareholders and maintaining the capacity for future growth and debt reduction. The company's leadership plans to regularly evaluate the possibility of future dividends and other uses of surplus cash.
Overseas Shipholding Group operates a U.S. Flag fleet, which includes Suezmax crude oil tankers, articulated tug-barges (ATBs), and medium-range (MR) tankers, among others. The fleet is engaged in the transportation of crude oil and petroleum products. OSG is known for its commitment to excellence in quality, safety, and environmental programs, and aims to be a customer-focused leader in marine transportation.
This dividend announcement is based on a press release statement from Overseas Shipholding Group, Inc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.