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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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Aegean Marine Petroleum goes ex-dividend

13 Mar 2017 06:14 GMT

Dividend payments on Aegean shares traded on or after 13th March will go to the seller.



Aegean Marine Petroleum Network Inc. went ex-dividend on 13th March, which means that the next dividend payment on any shares traded on or after this date will go to the seller.

On 1st March, the bunker supplier's board of directors declared a fourth quarter 2016 dividend of $0.02 per share payable on or around 29th March to shareholders of record as of 15th March.

When a company declares a dividend, it sets a record date of when a share buyer must be on the company's books as a shareholder to receive the dividend. Companies also use this date to determine who is sent proxy statements, financial reports, and other information.

Once the company sets the record date, the ex-dividend date is set based on stock exchange rules. The ex-dividend date date is usually set for stocks two business days before the record date. If stock is purchased on its ex-dividend date or after, the buyer will not receive the next dividend payment; instead, the seller gets the dividend. The buyer will only receive the dividend if the purchase is carried out before the ex-dividend date.

In its last financial results announcement, the company said: "The dividend amount was determined in accordance with the company's dividend policy of paying cash dividends on a quarterly basis subject to factors including the requirements of Marshall Islands law, future earnings, capital requirements, financial condition, future prospects and such other factors as are determined by the company's board of directors."

Aegean added: The company anticipates retaining most of its future earnings, if any, for use in operations and business expansion."




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