The company focuses on modern assets with long-term charters to acceptable counterparties. The company has a significant contract backlog that offers visibility with respect to future earnings and dividend capacity. Ocean Yield has an ambition to pay attractive dividends to its shareholders.

Ocean Yield was established in March 2012 and was listed on the Oslo Stock Exchange in July 2013.

Our investment strategy is as follows:

• Target of USD 350 million in annual new investments
• Modern vessels
• Long term charters
• Acceptable counterparties
• Multi-segment

• KEY INFORMATION RELATING TO THE CASH DIVIDEND TO BE PAID BY OCEAN YIELD ASA

  15 Feb 2021
  • Dividend amount: USD 0.0530 per share
  • Declared currency: USD
  • Last day including right: 17th February 2021
  • Ex-date: 18th February 2021
  • Record date: 19th February 2021
  • Payment date: 26th February 2021
  • Date of approval: 15th February 2021

  This information is published in accordance with the requirements of the Continuing Obligations.

  FOURTH QUARTER AND PRELIMINARY RESULTS 2020

  Fornebu, 15th February 2021, Ocean Yield ASA (“Ocean Yield” or the “Company”) announces results for the fourth quarter and preliminary results for the year ending 31st December 2020.

  15 Feb 2021

  Highlights 

  • The Board of Directors has declared a dividend of USD 5.30 cents per share. This is an increase of USD 0.15 cents compared to the previous quarter and is the 30th consecutive quarterly dividend declared by the Company. 
  • EBITDA for Q4 2020 was USD 46.3 million and EBITDA adjusted for finance lease effects was USD 67.6 million.
  • Net profit for the period Q4 2020 was negative USD 51.7 million. Adjusted net profit from continuing operations for Q4 2020 was USD 21.6 million.
  • In November, Ocean Yield agreed to sell the construction and cable-lay vessel Connector to a third party. The vessel negatively impacted the Net profit with USD 74.0 million in the fourth quarter. 
  • In October, Ocean Yield agreed to acquire two suezmax newbuilding tankers with 10-year bareboat charters to Nordic American Tankers Ltd. 
  • In December, Louis Dreyfus Armateurs, who is chartering the handysize dry-bulk vessel La Loirais on long-term charter, declared an option to sell the vessel to a third party. 
  • After the end of the quarter, Scorpio Bulkers Inc., who is chartering the kamsarmax dry-bulk vessel SBI Lynx and the ultramax dry-bulk vessels SBI Libra and SBI Virgo on long-term charter, declared an option to sell the vessels to third parties. Delivery will take place in the first quarter 2021.
  • Also after the end of the quarter, Navig8 Chemical Tankers Inc., who is chartering the chemical tanker Navig8 Topaz on long-term charter, declared the five-year purchase option on the vessel. The sale will be completed in July 2021.

  Lars Solbakken, CEO of Ocean Yield, said in a comment: 
  “We are pleased to announce another increase in dividends for the fourth quarter, and that all counterparties are performing according to contracts. During the fourth quarter, we invested in two newbuilding Suezmax tankers with long-term charters, while we continued to reduce our exposure to the oil-service segment with the sale of the offshore construction and cable-lay vessel Connector. Some of our counterparties have exercised purchase- or sales options in their contracts during the quarter. The net proceeds from these sales is expected to be reinvested as equity into new vessels with long-term charters“.