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Eagle Bulk Shipping (EGLE) Announces Dividend Policy, Share Repurchase Program and a USD 400 million Refinancing

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Eagle Bulk Shipping Inc. Announces Dividend Policy, Share Repurchase Program and a USD 400 million Refinancing

October 4, 2021 8:00 AM EDT

STAMFORD, Conn., Oct. 04, 2021 (GLOBE NEWSWIRE) -- Eagle Bulk Shipping Inc. (NASDAQ: EGLE) (Eagle Bulk, Eagle or the Company), one of the worlds largest owner-operators within the Supramax / Ultramax drybulk segment, announced today that the Company has instituted a dividend policy and a USD 50 million share repurchase program in conjunction with the closing of a USD 400 million comprehensive refinancing (the Refinancing).  

Under the dividend policy, the Board of Directors intends to authorize the payment of quarterly cash dividends equal to a minimum of 30% of net income, but not less than $0.10 per share. The first... More