Imperial Petroleum Inc. announces a dividend of $0.546875 per share for its Series A Preferred Shares, payable December 30, 2024.
Quiver AI Summary
Imperial Petroleum Inc. announced a dividend of $0.546875 per share on its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock, payable on December 30, 2024, to shareholders recorded by December 24, 2024. This payment covers the period from the last dividend on September 30, 2024, to December 29, 2024, involving a total of 795,878 Series A Preferred Shares. The company operates eleven vessels and is set to expand its fleet with additional tankers and drybulk carriers, bringing its total to 19 vessels. The company's shares are traded on the Nasdaq Capital Market under the symbols "IMPP" and "IMPPP." The press release also includes forward-looking statements about the company's performance and risks that may affect its operations, citing factors such as market conditions, geopolitical events, and financial uncertainties.
Potential Positives
- Announcement of a dividend of $0.546875 per share on its Series A Preferred Shares, reflecting the company's commitment to returning value to shareholders.
- The dividend payment signifies financial stability and profitability, which can attract more investors and enhance shareholder confidence.
- The company continues to expand its fleet by acquiring additional tankers and drybulk carriers, indicating growth potential and strategic planning.
- Shares of the company are actively traded on the Nasdaq Capital Market, enhancing visibility and liquidity for investors.
Potential Negatives
- The company is providing a dividend on preferred shares, which may indicate that it needs to attract investment to support its operations, raising concerns about its financial stability.
- Forward-looking statements include numerous significant uncertainties and contingencies, indicating potential instability in the company's future performance.
- The press release outlines multiple risks that could materially affect the company's results, including geopolitical conflicts and reliance on external financial conditions.
FAQ
What is the announced dividend for Imperial Petroleum Inc.?
The Company announced a dividend of $0.546875 per share on its Series A Preferred Shares.
When will the dividend be paid?
The dividend is payable on December 30, 2024, to holders of record as of December 24, 2024.
How many Series A Preferred Shares are currently outstanding?
As of the date of the announcement, there are 795,878 Series A Preferred Shares outstanding.
What types of vessels does Imperial Petroleum Inc. operate?
The Company operates six M.R. product tankers, two suezmax tankers, and three handysize drybulk carriers.
Under what ticker symbols does Imperial Petroleum Inc. trade?
Imperial Petroleum Inc. trades under the ticker symbols "IMPP" for common stock and "IMPPP" for Series A Preferred Shares.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$IMPP Hedge Fund Activity
We have seen 19 institutional investors add shares of $IMPP stock to their portfolio, and 10 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- SIMPLEX TRADING, LLC added 592,569 shares (+2829.6%) to their portfolio in Q3 2024
- DEUTERIUM CAPITAL MANAGEMENT, LLC added 572,191 shares (+143.6%) to their portfolio in Q3 2024
- SUSQUEHANNA INTERNATIONAL GROUP, LLP added 528,360 shares (+101.0%) to their portfolio in Q3 2024
- GROUP ONE TRADING, L.P. added 353,259 shares (+inf%) to their portfolio in Q2 2024
- CITADEL ADVISORS LLC added 171,861 shares (+296.2%) to their portfolio in Q3 2024
- ALLEGHENY FINANCIAL GROUP LTD added 155,994 shares (+inf%) to their portfolio in Q3 2024
- WEXFORD CAPITAL LP added 92,105 shares (+41.8%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
ATHENS, Greece, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Imperial Petroleum Inc. (Nasdaq: IMPP) (the "Company"), a ship-owning company providing petroleum products, crude oil, and drybulk seaborne transportation services, today announced a dividend of $0.546875 per share on its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock (the "Series A Preferred Shares"), payable on December 30, 2024 to holders of record as of December 24, 2024. The dividend payment relates to the period from the last dividend payment date for the Series A Preferred Shares on September 30, 2024 through December 29, 2024.
There are 795,878 Series A Preferred Shares outstanding as of the date hereof. The Series A Preferred Shares trade on the Nasdaq Capital Market under the ticker symbol "IMPPP."
ABOUT IMPERIAL PETROLEUM INC.
IMPERIAL PETROLEUM INC. is a ship-owning company providing petroleum products, crude oil and drybulk seaborne transportation services. The Company owns a total of eleven vessels on the water - six M.R. product tankers, two suezmax tankers and three handysize drybulk carriers - with a total capacity of 711,000 deadweight tons (dwt), and has contracted to acquire an additional 40,000 dwt M.R. product tanker and an additional seven drybulk carriers of 443,000 dwt aggregate capacity. Following these deliveries, the Company's fleet will count a total of 19 vessels. IMPERIAL PETROLEUM INC.'s shares of common stock and 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock are listed on the Nasdaq Capital Market and trade under the symbols "IMPP" and "IMPPP," respectively.
Forward-Looking Statements
Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although IMPERIAL PETROLEUM INC. believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, IMPERIAL PETROLEUM INC. cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including changes in charter hire rates and vessel values, charter counterparty performance, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled drydockings, shipyard performance, changes in IMPERIAL PETROLEUM INC.'s operating expenses, including bunker prices, drydocking and insurance costs, ability to obtain financing and comply with covenants in any financing arrangements, performance of counterparty to our vessel sale agreement, or actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, the conflict in Ukraine and related sanctions, the conflict on Israel and Gaza, the potential disruption of shipping routes due to ongoing attacks by Houthis in the Red Sea and Gulf of Aden or accidents and political events or acts by terrorists.
Risks and uncertainties are further described in reports filed by IMPERIAL PETROLEUM INC. with the U.S. Securities and Exchange Commission.
Company Contact:
Fenia Sakellaris
IMPERIAL PETROLEUM INC.
E-mail:
info@imperialpetro.com
