COOL COOL COMPANY LTD.

Key Information Relating to the Cash Dividend to be Paid by Cool Company Ltd. (ticker: CLCO)

Key Information Relating to the Cash Dividend to be Paid by Cool Company Ltd. (ticker: CLCO)

Note to shareholders who hold shares registered in Euronext Securities Oslo, the central securities depository in Norway (the “VPS”):

Due to implementation of the Central Securities Depository Regulation (“CSDR”) in Norway, please note the information on the payment date to the shares registered in the VPS below.

Dividend amount: $0.41 per share

Declared currency: USD.  Dividends payable to shares registered in the VPS will be distributed in NOK.

Last day including right: May 30, 2023

Ex-date: May 31, 2023

Record date: June 1, 2023

Payment date: On or about June 9, 2023. Due to the implementation of CSDR in Norway, dividends payable to shares registered in the VPS will be distributed on or about June 14, 2023.

Date of approval: May 22, 2023

For more information, questions should be directed to:

c/o Cool Company Ltd - 1 /

Richard Tyrrell - Chief Executive Officer

John Boots - Chief Financial Officer

This announcement is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act and the requirements under the EU Market Abuse Regulation. This announcement was published by Johannes Boots, CFO of Cool Company Ltd, at the date and time set out above.

FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements relating to the Company’s cash dividend, including record, ex- and payment dates, and other non-historical matters. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

 



EN
23/05/2023

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Reports on COOL COMPANY LTD.

Jørgen Lian
  • Jørgen Lian

Cool Company Minor model adjustments

We have updated our estimates, owing to the Q1 report, and trimmed our 2024–2026e revenue. We still believe contracting of vessels set to come open remains the key to solidifying the valuation. We see upside potential on fixing available TDFE spot earnings days at current TC rates (USD65k/day) and the second newbuild securing a broadly similar rate as the recently announced contract, which would lift our average 2025–2026e dividend yield from c8% to 12%. We do not consider these changes to be ma...

Jørgen Lian
  • Jørgen Lian

Navigating a near-term lull

We expect a daunting orderbook to dent freight markets in the coming years, before the next wave of LNG export projects returning the market to healthy levels. Our BUYs on the LNGC names we cover reflect earnings visibility and attractive long-term rates underpinned by high newbuild prices, as we see the potential for a re-rating on still-building backlogs towards a brighter long-term future.

Jørgen Lian
  • Jørgen Lian

A brewing challenge for the yards

Our 17th Annual Energy & Shipping Conference was well attended by investors and industry executives showcasing the still-growing interest for the sectors. Limited yard capacity is fuelling high newbuilding prices and raising freight rate expectations for the vast fleet renewal necessary in the coming decade. Long lead times underpin a bullish supply story for much of shipping in the coming years, albeit exposed to geopolitical risks affecting trade patterns. Our overall impression was general op...

Jørgen Lian
  • Jørgen Lian

Cool Company (Buy, TP: NOK155.00) - All about contract execution

Cool Company’s contract backlog leaves exposure to what we believe will be a soft spot market in the years ahead due to a heavy delivery schedule, only partly countered by export growth. However, we still estimate a 10% average 2025–2026 dividend yield on our cUSD43k/day TFDE spot rate, and calculate upside potential to a c15% dividend yield on the current implied 2025–2026e TC rate. Thus, we reiterate our BUY, but have cut our target price to NOK155 (166), on our average 2025–2026e to reflect t...

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