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Contact

Denmark:+45 39 17 92 00

Philippines, Manila:+63 2 8988 6500

Philippines, Cebu:+63 32 266 5534

India, Mumbai:+91 (022) 6640 7200

India, New Delhi:+91 (011) 6640 7201

United Kingdom:+44 203 713 4560

USA:+1 (281) 943 2750

Singapore: +65 6534 343

Third quarter 2023 dividends

On 9 November 2023, TORM announced that a dividend of USD 1.46 per share is declared to its shareholders. The dividend value in DKK is 9.99. The last day of trading, while still being eligible for dividends, will be 20 November 2023. Ex-dividend date will be 21 November 2023 and Record date will be 22 November 2023. Dividends will be paid to shareholders on the 5 December 2023.

Transfer of shares between Nasdaq Copenhagen and Nasdaq New York will not be possible from and including 20 November 2023 to and including 22 November 2023.

Distribution policy

TORM intends to distribute on a quarterly basis excess liquidity above a fixed threshold cash level as at the balance sheet day. For each quarter, the threshold cash level will be determined as the product of cash requirement per vessel and the number of owned and leased vessels in TORM’s fleet as at the balance sheet day. Excess liquidity is determined as TORM’s readily available liquidity less the threshold cash level. The readily available liquidity is defined as i) TORM’s cash balance at the last day of the quarter preceding the relevant distribution date excluding restricted cash, plus ii) undrawn amounts on TORM’s working capital facilities, minus iii) proceeds received from vessel sales, or additional proceeds from vessel refinancing, or securities offerings in the past 12 months earmarked for share repurchases, debt prepayment, vessel acquisitions, or general corporate purposes.

The cash requirement per vessel is fixed at:

  • USD 1.5m for 30 June 2022
  • USD 1.8m for 30 September 2022 onwards
Dividend table
Ex-dividend date Record date Payable date Amount per share
21 Nov 2023 22 Nov 2023 05 Dec 2023 $1.46
28 Aug 2023 29 Aug 2023 12 Sep 2023 $1.50
22 May 2023 23 May 2023 06 Jun 2023 $1.46
24 Mar 2023 27 Mar 2023 05 Apr 2023 $2.59
22 Nov 2022 23 Nov 2022 08 Dec 2022 $1.46
31 Aug 2022 01 Sep 2022 16 Sep 2022 $0.58
26 Aug 2020 27 Aug 2020 10 Sep 2020 $0.85
17 Apr 2020 20 Apr 2020 06 May 2020 $0.10
24 Aug 2017 25 Aug 2017 12 Sep 2017 $0.02
24 Aug 2016 25 Aug 2016 15 Sep 2016 $0.40