Pan Ocean Co., Ltd. Proposes Dividend for the Financial Year Ended 31 December 2021
February 10, 2022 at 11:44 pm
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Pan Ocean Co., Ltd. (the Company') announced that the company's Board of Directors has authorized a dividend of SGD 0.112 per ordinary share less income tax of 22% for the financial year ended 31 December 2021. Dividend payments will be made to only those shareholders who were shareholders of record at the close of business on December 31, 2021, as listed on the shareholders' registry on the record date. Dividend payments are subject to approval and ratification by a vote of shareholders at the Annual General Meeting of Shareholders (AGM') will be held on 29 March 2022 and will be made within 30 days of the date of the AGM.
The Company scheduled the remittance of the total amount of dividends to each of Korea Securities Depository (KSD) and The Central Depository (Pte) Limited (CDP) as soon as each party finishes the process of deducting withholding tax. All the shareholders entitled to dividends in both Korea and Singapore shall receive their net dividend payment by 29 April 2022.
Pan Ocean Co Ltd is a Korea-based company principally engaged in the provision of sea transportation services. The Company operates its business through two segments. The Shipping segment is engaged in the provision of sea transportation services using bulk carriers and non-bulk carriers. The bulk carriers include break bulk liners, trampers and large bulkers. The non-bulk carriers include tankers, containers, gas carriers and heavy lifters. This segment is engaged in the sea transportation of cargoes such as iron ores, coals, grains, containers, crude oil, crude oil, automobiles, liquefied natural gas (LNG), as well as special cargoes. In addition, this segment is engaged in the grain business, which purchases and sells grain to importers. The Other segment is involved of ship management business and leasing business.