Dorian LPG Ltd. Reports Record Earnings on Strong Market Conditions and Ship Resale Profits
Dorian LPG Ltd., a leading owner and operator of modern very large gas carriers (“VLGCs”), reported its financial results for the three months ended September 30, 2026. Key Recent Developments • Declared an irregular cash dividend totaling approximately $53.7 million, or $1.25 per share, to be paid on or about November 24, 2026 to all ...
Dorian LPG Ltd. announced robust financial results for the quarter ending September 30, 2026, driven by strong market conditions and significant proceeds from the sale of two VLGCs. The company declared an irregular dividend totaling $53.7 million, or $1.25 per share, to shareholders. It also benefited from the sale of two VLGCs, Captain John NP and Clermont, generating net proceeds of $77.0 million and $90.4 million, respectively.
The company's net income for the quarter reached $213.9 million, or $4.98 per diluted share, up from $55.4 million in the same period last year. Adjusted net income, which excludes gains from vessel sales and certain derivative gains, was $148.5 million, or $3.46 per diluted share. The company's new credit facility and shipbuilding contracts for three newbuilding dual-fuel Panamax VLGCs were highlighted as part of its strategic growth plans.
Chairman John C. Hadjipateras attributed the strong results to favorable market conditions and the disciplined approach to fleet renewal and expansion.
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