HONG KONG, June 28, 2018 /PRNewswire/ - Seaspan Corporation
(NYSE:SSW) announced today that the Company's Board of Directors
has declared cash dividends on its common and preferred shares as
follows:
Security
|
Ticker
|
Dividend per
Share
|
Period
|
Record
Date
|
Payment
Date
|
Class A
Common
|
SSW
|
$0.125
|
April 1, 2018
to
June 30,
2018
|
July 10,
2018
|
July 30,
2018
|
Series D
Preferred
|
SSW PR D
|
$0.496875
|
April 30, 2018
to
July 29,
2018
|
July 27,
2018
|
July 30,
2018
|
Series E
Preferred
|
SSW PR E
|
$0.515625
|
April 30, 2018
to
July 29,
2018
|
July 27,
2018
|
July 30,
2018
|
Series G
Preferred
|
SSW PR G
|
$0.5125
|
April 30, 2018
to
July 29,
2018
|
July 27,
2018
|
July 30,
2018
|
Series H
Preferred
|
SSW PR H
|
$0.492188
|
April 30, 2018
to
July 29,
2018
|
July 27,
2018
|
July 30,
2018
|
"The Board of Directors of Seaspan, after considerable thought,
has decided to inform shareholders that it intends to maintain the
quarterly common stock dividend at the $0.125 per share. Shareholders should not expect
increases in this dividend level going forward as the Board views
the current dividend level appropriate. The Board will continue to
evaluate the appropriateness of the dividend level on a quarterly
basis and could alter its view at any time. Seaspan will continue
to focus upon improving its credit quality through the reduction of
its debt levels. To the extent that the Board determines in the
future that Seaspan has excess capital and its stock is
undervalued, it would consider utilizing such capital for
repurchasing Seaspan common stock. Lastly, the Board wishes to
point out that with Fairfax Financial's additional equity
investments in Seaspan, the Board would generally only consider
issuing additional common equity at current prices in the course of
an accretive acquisition. While the Board of Directors reserves the
right to adjust these intentions based upon changed circumstances
the Board believes it is important to provide shareholders with as
much transparency as possible about the Board's intentions." stated
David L. Sokol, Chairman of the
Board.
About Seaspan
Seaspan is the world's leading independent charter owner of
containerships with industry leading ship management services. We
charter our vessels primarily pursuant to long-term, fixed-rate,
time charters from the world's largest container shipping liners.
Seaspan's operating fleet consists of 112 containerships with a
total capacity of over 900,000 TEU, an average age of approximately
5 years and an average remaining lease period of approximately 5
years, on a TEU weighted basis.
Seaspan has the following securities listed on The New York
Stock Exchange
Symbol:
|
Description:
|
|
|
SSW
|
Class A common
shares
|
SSW PR
D
|
Series D preferred
shares
|
SSW PR
E
|
Series E preferred
shares
|
SSW PR
G
|
Series G preferred
shares
|
SSW PR
H
|
Series H preferred
shares
|
SSWN
|
6.375% senior
unsecured notes due 2019
|
SSWA
|
7.125% senior
unsecured notes due 2027
|
For Investor Relations Inquiries:
Mr. Anthony
Gerstein
Senior Director, Investor Relations
Seaspan Corporation
Tel. 646-659-4050
Email: agerstein@seaspanltd.ca
View original content with
multimedia:http://www.prnewswire.com/news-releases/seaspan-declares-quarterly-dividends-on-common-and-preferred-shares-300674256.html
SOURCE Seaspan Corporation