Ardmore Shipping (ASC) Tops Q3 EPS by 14c

Ardmore Shipping (NYSE: ASC) reported Q3 EPS of $0.52, $0.14 better than the analyst estimate of $0.38. Revenue for the quarter came in at $47.2 million versus the consensus estimate of $36.25 million.

Announced a change in dividend policy to a constant payout ratio policy on September 8, 2015 in recognition of the continued strength of the charter market and the near completion of the initial newbuilding program, With the new policy, the company intends to pay a quarterly dividend of 60% of Earnings from Continuing Operations, which represents our earnings per share reported under U.S. GAAP as adjusted for unrealized and realized gains and losses and extraordinary items.

For earnings history and earnings-related data on Ardmore Shipping (ASC) click here.

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