Tufton Oceanic Assets Ltd. NAV, Dividend Declaration and Q4 2020 Update (3715M)
21 January 2021 - 6:00PM
UK Regulatory
TIDMSHIP
RNS Number : 3715M
Tufton Oceanic Assets Ltd.
21 January 2021
21 January 2021
TUFTON OCEANIC ASSETS LIMITED
("Tufton Oceanic Assets" or the "Company")
Net Asset Value, Dividend Declaration and Q4 2020 Update
Tufton Oceanic Assets announces that as at 31 December 2020, the
unaudited net asset value ("NAV") was $250.43 million and the
unaudited NAV per ordinary share was $0.982. The NAV total return
for the quarter was 5% and the NAV total return for the year was
6.4%.
The Company has raised its target annual dividend to $0.075 per
share from $0.07 per share. The Company is therefore pleased to
announce a dividend of $0.01875 per ordinary share for the quarter
ending 31 December 2020. The dividend will be paid on 12 February
2021 to holders of ordinary shares recorded on the register as at
close of business on 29 January 2021 with an ex-dividend date of 28
January 2021. After the increase, the Company is forecast to have a
2021 dividend cover of c.1.5x and an average expected charter
length of c.2.8 years (EBITDA weighted).
The Company's quarterly factsheet as at 31 December 2020 will
shortly be available on the Company's website in the Investor
Relations section under Company Documents at
www.tuftonoceanicassets.com/quarterly-reports .
For further information, please contact:
Tufton Investment Management Ltd
Andrew Hampson
Paulo Almeida +44 (0) 20 7518 6700
N+1 Singer
James Maxwell, Alex Bond (Corporate
Finance)
Alan Geeves, James Waterlow, Sam Greatrex
(Sales) +44 (0) 20 7496 3000
Hudnall Capital LLP +44 (0) 20 7520 9085
Andrew Cade
About the Company
Tufton Oceanic Assets Limited invests in a diversified portfolio
of secondhand commercial sea-going vessels with the objective of
delivering strong cash flow and capital gains to investors. The
Company's investment manager is Tufton Investment Management Ltd.
The Company has raised a total of approximately $250m (gross)
through its Initial Public Offering on the Specialist Fund Segment
of the London Stock Exchange, on 20 December 2017, a subsequent
placing and offer in October 2018, a placing in March 2019 and a
placing in September 2019 .
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END
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