IMPERIAL PETROLEUM INC. Declares Dividend on Series A Preferred Shares
March 14 2024 - 4:45PM
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 April 1, 2024 to holders of record
as of March 26, 2024. The dividend payment relates to the period
from the last dividend payment date for the Series A Preferred
Shares on December 30, 2023 through March 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: six M.R. product tankers, two suezmax tankers, one aframax
tanker and two handysize dry bulk carriers with a total capacity of
792,000 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 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
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 and the
conflict in Gaza, 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 SakellarisIMPERIAL PETROLEUM
INC.E-mail: info@imperialpetro.com
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