United Maritime Corporation expands fleet with new bulk carrier
United Maritime Corporation announced the addition of a new modern Japanese kamsarmax cargo ship to its fleet. The acquisition was made through an 18-month bareboat charter with a right to buy arrangement. Following the completion of this agreement, the company's fleet will comprise nine bulk carriers, including 3 Capesize, 3 Kamsarmax, and 3 Panamax vessels, with a total transport capacity of approximately 1,004,289 dwt tons.
In terms of financial results, United Maritime reported net sales of 11.6 million US dollars in the fourth quarter of 2023, down from 14.9 million US dollars in the same period in 2022. Adjusted net losses for the quarter were 0.6 million US dollars, compared to adjusted net income of 39.8 million US dollars in the fourth quarter of 2022. For the full year 2023, net revenue increased to 36.1 million US dollars from 22.8 million US dollars in 2022, while adjusted net income amounted to 2.8 million US dollars, down from 40.9 million US dollars in the previous year.
United Maritime Corporation also continued its commitment to rewarding shareholders, distributing total dividends of 10.7 million US dollars over the past 15 months, equivalent to 1.38 dollars per share, representing around 45% of the company's market capitalization. The company's Board approved another quarterly regular dividend of 0.075 dollars per share, translating to approximately an 11% annualized dividend yield for investors.
