American Shipping Company ASA : Dividend payment details

Oslo, 3 March 2016 - Reference is made to the Company's Q4 2015 report, regarding the Board's authorization to pay a quarterly dividend of USD 0.107 per share to the shareholders of AMSC on record as of 24 February 2016.  Based on the closing NOK/USD exchange rate on 22 February 2016, the NOK amount per share of 0.9232 was paid today, 3 March 2016.  The dividend is classified as a return of paid in capital.

The dividend is approximately 4% higher than the previous quarter, and total dividends for 2016 are expected to increae about 15% compared to 2015.

About American Shipping Company ASA:

Established in 2005 and listed on the OSE, AMSC is a ship owning company with nine modern handy size product tankers and one modern handy size shuttle tanker on long term bareboat charter with Overseas Shipholding Group (OSG). OSG charters the vessels out on time charters to major oil companies in the U.S. coastwise Jones Act trade.  AMSC has a significant contract backlog as well as a profit sharing agreement with OSG which offers visibility with respect to future earnings and potential dividend capacity. The Company  has  an  ambition  to  pay  attractive  and  growing  dividends  to its shareholders. Further information is available at www.americanshippingco.com.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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Source: American Shipping Company ASA via Globenewswire

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