Box Ships Inc., (TEU), or the Company, a global shipping company specializing in the transportation of containers, announced that the Company's Board of Directors declared a quarterly dividend of $0.30 per share with respect to the first quarter of 2012, payable on or about May 18, 2012 to shareholders of record as of the close of business on May 11, 2012.
Commenting on the Company's dividend declaration, Michael Bodouroglou, the Chairman, President and Chief Executive Officer of the Company, stated, "We are pleased to announce our fourth consecutive quarterly dividend since the Company's IPO in April of 2011. Since then, we have declared dividends totaling in aggregate $1.05 per share to our shareholders."
The declaration and payment of any future dividend will be determined at the sole discretion of the Company's Board of Directors. We cannot assure you that we will pay quarterly dividends with respect to any future quarters in the amount stated above or at all, and our ability to pay dividends will be subject to the restrictions in our loan agreements, the provisions of Marshall Islands law and other factors to be considered by our Board of Directors.
About Box Ships Inc.
Box Ships Inc. is an Athens, Greece-based international shipping company specializing in the transportation of containers. The Company's current fleet consists of seven containerships with a total carrying capacity of 33,237 TEU and a weighted-average age of 4.4 years. The company's shares trade on the New York Stock Exchange under the symbol "TEU."
Source: Box Ships Inc.