Copenhagen, Denmark – NORDEN, a global shipping company, has announced a strong financial performance for the second quarter of 2024. The company reported a profit of USD 46 million for Q2 and USD 108 million for the first half of the year. NORDEN’s return on invested capital (ROIC) was 21% by the end of Q2, demonstrating solid financial health.
CEO Jan Rindbo expressed satisfaction with the company’s performance, highlighting positive market developments and strategic investments in modern vessels. NORDEN has adjusted its full-year guidance to a net profit range of USD 160 to 240 million, with expectations of further margin improvements in its Freight Services & Trading business. The company is committed to returning cash to shareholders, recently paying out a dividend of DKK 2.00 per share, totaling DKK 64 million (approx. USD 9 million).
Shareholders of NORDEN can expect to receive the dividend through VP Securities based on their shareholdings as of August 12, 2024. The company’s shares will trade cum interim dividend until August 8, 2024, and ex interim dividend from August 9, 2024. The dividend is expected to be available in shareholders’ accounts by August 13, 2024.
In addition to the dividend payment, NORDEN will launch a share buy-back program worth USD 14 million, demonstrating the company’s commitment to creating value for its shareholders. For more information on the share buy-back program, please refer to the separate announcement from the company.
For further information on NORDEN’s financial performance and shareholder initiatives, please contact Stig Frederiksen, Head of Investor Relations, at +45 32 71 08 55.
Stay updated on NORDEN’s latest news and developments by visiting their official website or following them on Cision for real-time updates.
About NORDEN:
Dampskibsselskabet NORDEN A/S is a leading global shipping company specializing in dry cargo and tanker vessels. With a focus on sustainable and profitable growth, NORDEN is dedicated to delivering value to its customers and shareholders.
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