Imperial Petroleum Inc. Declares Dividend on Series a Preferred Shares
September 15 2022 - 9:25AM
Imperial Petroleum Inc. (Nasdaq: IMPP) (the “Company”) a
ship-owning company currently providing petroleum product and crude
oil seaborne transportation services, today announced a dividend of
approximately $0.546875 per share on its 8.75% Series A
Cumulative Redeemable Perpetual Preferred Stock (the “Series A
Preferred Shares”), payable on September 30, 2022 to holders of
record as of September 27, 2022. The dividend payment relates to
the period from the last dividend payment date for the Series A
Preferred Shares on June 30, 2022 through September 29, 2022.
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 8 vessels;
five M.R. product tankers, one Aframax oil tanker and two suezmax
tankers and has entered into an agreement to acquire two handysize
dry bulk carriers. Following the delivery of these dry bulk
vessels, Imperial Petroleum’s fleet will count 10 vessels with a
capacity of approximately 737,000 deadweight tons
(dwt). 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, or
impact or duration of the COVID-19 pandemic 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 risks discussed in our filings
with the SEC and the following: the impact of
the COVID-19 pandemic and efforts throughout the world to
contain its spread, 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 our financing arrangements, 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,
potential disruption of shipping routes due to 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.
00-30-210-6250-001
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