NEW YORK, NY / ACCESSWIRE / March 16, 2017 / Shipping companies DryShips and Frontline Limited have declared dividends for the month of March to shareholders. DryShips is working to re-establish its market reputation by rewarding investors with what potentially could be a significant quarterly dividend, but shareholders will have to wait a bit before knowing exactly how much they can count on. Frontline is in negotiations to try to expand its business through a buyout. But its initial offer was soundly rebuffed.

RDI Initiates Coverage:

DryShips Inc. https://ub.rdinvesting.com/news/?ticker=DRYS

Frontline Ltd. https://ub.rdinvesting.com/news/?ticker=FRO

Dryships Inc., is a shipping company based in Greece, an owner and operator of dry bulk carriers that have global operations. The stock price of the company closed at $1.71 USD on Wednesday, down 9 cents per share. Less than a month ago, on February 27th the company announced the payment of a quarterly dividend of $2.5 million USD to its shareholders and the initiation of regular dividend policy. The company has announced that the dividend is payable to shareholder on record as of March 15. The company has announced that the exact number of shares outstanding will be announced on March 16th. Some analysts have estimated the total number of shares will be about 159 million, resulting in an annual yield of just 4 percent. In 2016, the company reported a net loss of $206 million, thus one has to assume that the company's business has made significant headway in its financials or it has found other ways to fund the dividend payment.

Access RDI's DryShips Research Report at: https://ub.rdinvesting.com/news/?ticker=DRYS

Oil tanker company Frontline Limited saw its stock price go up by 13 cents a share today to $6.83. It is the world's largest oil tanker company, which currently has 82 tankers in its fleet and is expected to have 100 total with its current order of an additional 18 in process. Last month, on February 28th oil tanker company DHT was given a proposal by Frontline to acquire all of DHT's common stock in exchange for 0.8 shares of Frontline stock. The proposal was unanimously rejected by its Board of Directors. Frontline appears to want to consolidate its service territory, but it may have to pay more than it wants to accomplish the objective. Frontline is based in Bermuda, while DHT has multiple locations in Oslo, Norway, and Singapore. Frontline announced a dividend payment of 15 cents per share with an ex-dividend date of March 9th. The company had $18.3 of net income attributable for the fourth quarter of 2016 and $117 million for the whole year of 2016. Adjusted net income which excluded non-cash items, stood at $34.5 million or 22 cents a share for the fourth quarter and $188.9 or $1.20 a share for whole year of 2016.

Access RDI's Frontline Research Report at: https://ub.rdinvesting.com/news/?ticker=FRO

Our Actionable Research on DryShips Inc. (NASDAQ: DRYS) and Frontline Ltd. (NYSE: FRO) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, a CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com