Time charter revenues were $52.1 million for the fourth quarter of 2025, compared to $57.1 million for the same quarter of 2024. The decrease was primarily attributable to the sale of two vessels in 2025 and the higher number of drydocking days during the fourth quarter of 2025 compared to the same quarter of 2024, which decreased ownership days and the fleet’s available days for hire.
Net income for 2025, amounted to $17.8 million and net income attributable to common stockholders amounted to $12.1 million. This compares to net income of $12.7 million and net income attributable to common stockholders of $7.0 million for 2024. Time charter revenues for 2025, were $213.5 million, compared to $228.2 million for 2024. Earnings per share for 2025 were $0.11 basic and diluted, compared to $0.06 basic and $0.05 diluted for 2024.
Dividend Declaration
The Company has declared a cash dividend on its common stock of $0.01 per share, based on the Company’s results of operations for the quarter ended December 31, 2025. The cash dividend will be payable on March 18, 2026, to all common shareholders of record as of March 11, 2026. As of February 25, 2026, the Company had 115,789,435 common shares issued and outstanding and 16,202,921 warrants outstanding…
