DRYSHIPS INC. ANNOUNCES 2ND CONSECUTIVE COMMON STOCK DIVIDEND FOR THE QUARTER ENDED MARCH 31, 2017
ATHENS, GREECE – April 11, 2017 – DryShips Inc. (NASDAQ: DRYS) (the “Company” or “DryShips”), a diversified owner of ocean going cargo vessels, announced today that its Board of Directors has declared a quarterly cash dividend with respect to the quarter ended March 31, 2017, under the previously announced new dividend policy. Under this policy, the Company will pay a regular fixed quarterly dividend of $2.5 million to the holders of common stock.
With respect to the quarter ended March 31, 2017, the Board of Directors declared a dividend of $2.5 million to the common shareholders of record as of May 1, 2017 and payable on or about May 15, 2017. The dividend per share amount to be paid by the Company will be determined based on the number of shares outstanding on the record date.
Updated Key Information as of April 11, 2017:
– Cash and cash equivalents about $422.0 million, (or $8.98 per share)
– Book value of vessels, including deposits about $194.3 million, (or $4.13 per share)
– 3rd Party Loans about $16.5 million
– Sifnos Loan Facility balance about $200.0 million
– Number of Shares Outstanding about 47,010,986
Source credit: http://dryships.irwebpage.com/press/dryspr041117.pdf