Overseas Shipholding Group, Inc. (NYSE MKT:OSG, OSGB) (the “Company” or “OSG”) announced today that on February 29,
2016 its Board of Directors declared a cash dividend of $0.08 per share on the Class A and Class B common stock.
On March 25, 2016, all shareholders of record of OSG’s Class A common stock and Class B common stock as of 5:00 p.m. E.S.T. on March 18, 2016, the record date of the dividend (the “record date”), will receive a dividend of $0.08 for each share of Class A common stock and Class B common stock held by them as of the record date.
“We are very pleased to announce this return of capital to our stockholders,” said Captain Ian T. Blackley, OSG’s president and CEO. “This is the first cash dividend the Company has paid since the third quarter of 2011, and we believe the payment of this dividend marks another important milestone in our efforts to deliver value for our shareholders.”
In addition, in accordance with the terms of the outstanding warrants for OSG’s Class A and Class B common stock, those warrants will be automatically adjusted pursuant to their terms to reflect the payment of the dividend. Holders of warrants do not need to take any action at this time.