Tufton Oceanic Assets Ltd. NAV, Dividend Declaration and Q4 2020 Update (3715M)

TIDMSHIP

RNS Number : 3715M

Tufton Oceanic Assets Ltd.

21 January 2021

21 January 2021

TUFTON OCEANIC ASSETS LIMITED

("Tufton Oceanic Assets" or the "Company")

Net Asset Value, Dividend Declaration and Q4 2020 Update

Tufton Oceanic Assets announces that as at 31 December 2020, the unaudited net asset value ("NAV") was $250.43 million and the unaudited NAV per ordinary share was $0.982. The NAV total return for the quarter was 5% and the NAV total return for the year was 6.4%.

The Company has raised its target annual dividend to $0.075 per share from $0.07 per share. The Company is therefore pleased to announce a dividend of $0.01875 per ordinary share for the quarter ending 31 December 2020. The dividend will be paid on 12 February 2021 to holders of ordinary shares recorded on the register as at close of business on 29 January 2021 with an ex-dividend date of 28 January 2021. After the increase, the Company is forecast to have a 2021 dividend cover of c.1.5x and an average expected charter length of c.2.8 years (EBITDA weighted).

The Company's quarterly factsheet as at 31 December 2020 will shortly be available on the Company's website in the Investor Relations section under Company Documents at www.tuftonoceanicassets.com/quarterly-reports .

For further information, please contact:

 
 Tufton Investment Management Ltd 
  Andrew Hampson 
  Paulo Almeida                                                            [phone] 
 
 N+1 Singer 
  James Maxwell, Alex Bond (Corporate 
  Finance) 
  Alan Geeves, James Waterlow, Sam Greatrex 
  (Sales)                                          [phone] 
 
 Hudnall Capital LLP                                                       [phone] 
  Andrew Cade 
 

About the Company

Tufton Oceanic Assets Limited invests in a diversified portfolio of secondhand commercial sea-going vessels with the objective of delivering strong cash flow and capital gains to investors. The Company's investment manager is Tufton Investment Management Ltd. The Company has raised a total of approximately $250m (gross) through its Initial Public Offering on the Specialist Fund Segment of the London Stock Exchange, on 20 December 2017, a subsequent placing and offer in October 2018, a placing in March 2019 and a placing in September 2019 .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NAVFLFSRLSIIFIL

(END) Dow Jones Newswires

January 21, 2021 02:00 ET (07:00 GMT)