Okeanis Eco Tank Stock Price, News & Analysis

Okeanis Eco Tankers Corp. (NYSE:ECO / OSE:OET) has announced it will release its unaudited interim condensed results for the third quarter and nine-month period ended September 30, 2024, on Friday, November 8, 2024. The company will host a webcast/teleconference at 14:30 CET. Participants can join via weblink or conference call using international dial-in numbers. The presentation materials will be available for download from the company's Investor Relations website before the event.

Okeanis Eco Tankers Corp. (NYSE: ECO / OSE: OET) has announced a Q2 2024 dividend of USD 1.10 per common share. The company's shares will trade ex-dividend on the Oslo Stock Exchange from August 20, 2024, and on the New York Stock Exchange from August 21, 2024. This information follows the key Q2 2024 dividend announcement made on August 9, 2024. Shareholders should take note of these important dates to ensure they are eligible for the dividend payment.

Okeanis Eco Tankers Corp. (NYSE: ECO / OSE: OET) has declared a Q2 2024 dividend of USD 1.10 per common share, classified as a return of capital. Due to the implementation of CSDR in Norway and different settlement periods between NYSE (T+1) and OSE (T+2), there are varying ex-dividend dates:

- Last day including right: OSE - August 19, 2024; NYSE - August 20, 2024
- Ex-date: OSE - August 20, 2024; NYSE - August 21, 2024
- Record date for both exchanges: August 21, 2024
- Payment date: September 5, 2024 (VPS shareholders expected around September 10, 2024)

Dividends for VPS-registered shares will be distributed in NOK. Shareholders are advised to contact their financial institutions for details on dividend crediting.

Okeanis Eco Tankers Corp. (NYSE: ECO, OSE: OET) has released its unaudited financial results for Q2 and H1 2024. Key highlights include:

- Q2 2024 revenues of $112.0 million, down from $119.8 million in Q2 2023
- Q2 2024 profit of $39.6 million, compared to $52.9 million in Q2 2023
- Earnings per share of $1.23 in Q2 2024, down from $1.64 in Q2 2023
- Cash position of $98.1 million as of June 30, 2024
- Fleetwide daily TCE rate of $64,900 per operating day in Q2 2024
- Declaration of Q2 2024 dividend of $1.10 per common share

The company's performance shows a slight decline compared to the same period last year, but maintains strong profitability and cash position.

Okeanis Eco Tankers Corp. (NYSE:ECO / OSE:OET) has announced its upcoming Q2 2024 results conference call and webcast, scheduled for August 9, 2024, at 14:30 CET. The company will report unaudited interim condensed results for the second quarter and first half year ended June 30, 2024. Participants can join via webcast or conference call, with dial-in details provided for international access, USA, and Norway. The presentation material will be available for download from the company's Investor Relations section prior to the event. For further information, investors can contact CFO Iraklis Sbarounis or reach out to Capital Link for investor relations and media inquiries.

Okeanis Eco Tankers Corp. (NYSE:ECO / OSE:OET) has secured a new $31.11 million senior secured credit facility from Bank SinoPac Co., to finance the repurchase of its Suezmax vessel Poliegos. The financing deal, expected to close in July 2024, carries an interest rate of Term SOFR plus 160 basis points, matures in six years, and includes quarterly repayments of $0.78 million and a balloon payment of $12.44 million at maturity. CFO Iraklis Sbarounis highlighted the transaction as a strategic move to improve the company's capital structure, noting a significant reduction in financing costs and access to new Asian markets. Since June 2023, Okeanis has refinanced its fleet, reducing banking debt costs by 125 basis points on over $550 million in principal and extending maturities to between 2028 and 2031. The company aims to continue optimizing financing for its vessels, including the Nissos Rhenia and Nissos Despotiko, by 2026.

Okeanis Eco Tankers Corp. (NYSE: ECO / OSE: OET), a prominent player in the tanker shipping industry, has announced that its shares will trade ex-dividend at USD 1.10 per common share. The ex-dividend date is June 4, 2024, on the Oslo Stock Exchange and June 5, 2024, on the New York Stock Exchange.

This follows the company's Q1 2024 dividend announcement on May 16, 2024. Shareholders who purchase the stock before these dates will qualify for the dividend payout. This move underlines Okeanis Eco Tankers' commitment to returning value to its investors.

Okeanis Eco Tankers Corp. (NYSE:ECO / OSE:OET) held its 2024 Annual Meeting of Shareholders on May 31, 2024, in Athens, Greece.

All agenda proposals were approved, including the election of seven directors and the ratification of Deloitte as the independent auditors for the year ending December 31, 2024.

The elected directors are Ioannis Alafouzos, Robert Knapp, Daniel Gold, Joshua Nemser, Charlotte Stratos, Francis Dunne, and Petros Siakotos Konstantinidis.

This meeting aligns with the disclosure requirements of the Norwegian Securities Trading Act.

Okeanis Eco Tankers Corp. (NYSE:ECO / OSE:OET) announced new financings for its fleet. The company secured a $60 million senior secured credit facility for the VLCC vessel Nissos Kythnos, provided by Danish Ship Finance A/S. This facility will close in May 2024 and is priced at 140 basis points over the Term SOFR until December 2026. The facility will be repaid in quarterly installments with a balloon payment at maturity. Additionally, a sustainability-linked margin adjustment will start in 2025.

OET also entered a supplemental agreement for the VLCC vessel Nissos Donoussa, reducing its margin to 165 basis points over Term SOFR. CFO Iraklis Sbarounis emphasized these transactions' role in reducing debt costs and enhancing capital structure. This development follows a series of refinancings and financing amendments over the last 10 months.