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SINGAPORE – BW LPG Limited (BWLPG.OL, BWLP), a leading player in the global LPG shipping market, announced today a significant procedural update regarding its dividend payments. The company will now harmonize dividend payment dates for shares traded on both the Oslo Stock Exchange (Euronext Securities Oslo) and the New York Stock Exchange (Depository Trust Company). This move is expected to expedite dividend delivery for shareholders registered with Euronext Securities Oslo.
Previously, shareholders holding shares registered in Oslo experienced delays in receiving dividend payments compared to their counterparts in New York. This procedural change aims to eliminate this disparity, streamlining the dividend distribution process for all investors.
While the payment dates are being synchronized, the core dividend policy remains unchanged. Dividends will continue to be denominated in USD, providing stability and predictability for international investors. For shareholders registered with Euronext Securities Oslo, the USD dividend will be converted to NOK at the prevailing exchange rate. The specific NOK dividend amount per share will be announced concurrently with the release of the quarterly Financial Report and Earnings Presentation, ensuring transparency and clear communication.
This seemingly simple adjustment in dividend payment procedure reflects a growing emphasis on shareholder value and operational efficiency within BW LPG. By reducing administrative hurdles and ensuring timely payments, the company is sending a clear signal of its commitment to its investors. Furthermore, the increased efficiency could potentially attract a broader range of investors, particularly those sensitive to dividend payment timelines.
BW LPG’s strategic move comes at a time when the LPG market is experiencing significant shifts. Fluctuations in global energy prices, evolving geopolitical landscapes, and increasing demand for cleaner energy sources are all impacting the dynamics of the LPG sector. In this context, BW LPG’s focus on operational excellence, as demonstrated by this dividend payment update, underscores its commitment to navigating these challenges and maintaining its position as a market leader.
About BW LPG
BW LPG is the world’s leading owner and operator of LPG vessels, managing a fleet of over 50 Very Large Gas Carriers (VLGCs) with a combined carrying capacity exceeding 4 million CBM. With extensive experience in LPG shipping, an in-house trading division, and investments in onshore LPG infrastructure, BW LPG provides comprehensive services for sourcing and delivering LPG. More information is available at https://www.bwlpg.com.
BW LPG is affiliated with BW Group, a global maritime conglomerate involved in shipping, floating infrastructure, deepwater oil & gas production, and sustainable technologies. Founded in 1955, BW Group manages a fleet of over 450 vessels, including one of the world’s largest gas fleets consisting of 200 LNG and LPG ships. The group also has investments in solar, wind, batteries, and water treatment within the renewables sector.
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