Danaos Corporation Stock Price, News & Analysis

Danaos Corporation (NYSE: DAC) has approved a dividend reinvestment plan allowing shareholders to purchase additional shares using cash dividends. Participation is optional and those opting out will still receive cash dividends. The plan offers a discount of up to 3% from market price for purchases made directly from Danaos. Enrollment materials will be sent to stockholders, and they must submit forms to the Administrator by May 27, 2021, for the dividend declared on May 10, 2021. Further details can be found in the plan's prospectus on the SEC's website.

Danaos reported impressive first-quarter results for 2021, with adjusted net income soaring to $58.0 million ($2.83 per share), up 74.2% from $33.3 million ($1.34 per share) a year prior. Operating revenues increased 24.4% to $132.1 million. Adjusted EBITDA rose by 33.9% to $96.3 million. The company has established a quarterly dividend of $0.50 per share, payable on June 9, 2021. With 91% charter coverage for the next 12 months and total contracted revenues of $1.2 billion, Danaos is positioned for continued growth.

Danaos Corporation (NYSE: DAC) announced it will release its first-quarter results for the period ending March 31, 2021, after market close on May 10, 2021. A conference call to discuss the results will be held on May 11, 2021, at 9:00 A.M. ET. Participants can join the call by dialing in 10 minutes prior to the start time. A telephonic replay will be available until May 18, 2021, and an audio webcast will be accessible on the company's website.

Danaos operates a fleet of 65 containerships with a total capacity of 406,586 TEUs, positioning itself as a major player in the industry.

Danaos Corporation (NYSE: DAC) has successfully completed a $1.25 billion refinancing of its senior secured debt. The refinancing includes an $815 million credit facility, a $135 million sale leaseback agreement for five vessels, and proceeds from a $300 million bond offering. This restructuring streamlines the capital structure, extending debt maturities until at least 2025 and improving cash flow generation. CEO Dr. John Coustas emphasized that this achievement marks a new era for the company and enhances its ability to pursue growth strategies.

Danaos Corporation (NYSE: DAC) announces the passing of Robert A. Mundell, a key member of its Board of Directors from 2006 to 2015. Mundell, a renowned economist, was instrumental in the development of the Euro and supply-side economics, receiving the Nobel Prize in 1999 for his contributions. His innovative thinking profoundly influenced international monetary arrangements. The company expresses its condolences to his family, highlighting his legacy on both the board and in the field of economics.

Danaos Corporation (NYSE: DAC) has filed its Annual Report on Form 20-F for the year ended December 31, 2020, with the Securities and Exchange Commission. The report can be accessed on the company's website, www.danaos.com. Danaos is one of the largest independent owners of containerships, operating a fleet of 65 vessels with a total capacity of 403,793 TEUs. The company maintains fixed-rate charters with major liner companies, highlighting its strong position in the global shipping industry.

Danaos Corporation (NYSE: DAC) reported solid financial results for Q4 and the full year of 2020, showing a significant rise in adjusted net income to $47.8 million ($2.29 per share), up 25.8% year-over-year. Full-year adjusted net income rose to $170.9 million ($7.18 per share), a 14.9% increase. Operating revenues increased by 8.5% for Q4 and 3.2% for the full year, reaching $119.6 million and $461.6 million, respectively. The company also holds $1.2 billion in contracted operating revenues with strong charter coverage. CEO John Coustas highlighted improvements in the charter market and future revenue expectations exceeding $100 million above 2020 figures.

Danaos Corporation (NYSE: DAC), a leading independent owner of containerships, will announce its fourth quarter results on February 15, 2021, after market close. A conference call to discuss these results is scheduled for February 16, 2021, at 9:00 A.M. ET. The company operates a fleet of 65 containerships with a total capacity of 406,586 TEUs, chartered to major global liner companies on fixed-rate agreements. Danaos' operational success is driven by stringent efficiency and environmental standards.

Danaos Corporation (NYSE:DAC) has announced the pricing of $300 million in 8.500% senior unsecured notes due 2028. The offering is part of a $1.25 billion refinancing plan for a substantial majority of its outstanding senior secured debt. The proceeds will be combined with an $815 million senior secured credit facility and a $135 million sale leaseback arrangement. The offering is expected to close around February 11, 2021. Danaos owns a fleet of 65 containerships, ranking among the largest charter owners globally.