General information about BW LPG shares

BW LPG is listed on the Oslo Stock Exchange and the New York Stock Exchange.

Jurisdiction Bermuda
Number of shares issued 140,000,000 
Number of Treasury shares  8,247,446 (as at 28 May 2024)
Number of shares held by Group Companies Parent company, BW Group Limited, 48,407,126
Shares listed on Olslo Stock Exchange: https://live.euronext.com/en/product/equities/BMG173841013-XOSL
New York Stock Exchange: https://www.nyse.com/quote/XNYS:BWLP

Dividend distribution policy

Adopted by the Board of Directors on 10 November 2023

The Company intends to provide a quarterly dividend payout, subject to the discretion of the Board of Directors. As a guideline for declaring dividends, the Board of Directors generally aims for an annual payout ratio of 50% of Shipping NPAT, which may be enhanced to 75% and 100% of Shipping NPAT when the net leverage ratio is below 30% and 20%, respectively. Shipping NPAT is calculated as Profit attributable to equity holders of the Company, minus the Company’s share of BW LPG Product Services Pte. Ltd.’s Net profit/(loss) after tax.

The declaration and payment of dividends is subject to the discretion of the Board of Directors, and the final amount of any dividends is determined by the Board of Directors. The Board of Directors may adjust the dividend payout for extraordinary items, such as vessel impairment or write-backs of impairment, and may also consider other factors in determining the payment and amount of any dividends, such as the following:

  • BW LPG Product Services Pte. Ltd.’s performance, as measured by, among other things, the amount of dividends distributed by BW LPG Product Services Pte. Ltd. to the Company;
  • The Group’s capital expenditure plans; and
  • The Group’s financing requirements, financial flexibility, and anticipated cash flows of the business.

There can be no assurance that the Board of Directors will declare a dividend payment in any period.

Under Bermuda law, a company may not declare or pay dividends if there are reasonable grounds for believing that: (i) the company is, or would after the payment be, unable to pay its liabilities as they become due; or (ii) that the realizable value of its assets would thereby be less than its liabilities.

BW LPG dividend information

  Earnings Per Share (USD) Dividend per share (USD) Dividend per share (NOK) Share price at period end (USD) [1] Annualised dividend yield
Q1 2024$1.07 $1.00 [To be provided]$11.2436% 
Q4 2023 $1.14 $0.90 NOK 9.54 $14.96 24%
Q3 2023 $0.85 $0.80 NOK 8.89 $12.63 25%
Q2 2023 $0.59 $0.81 NOK 8.668 $9.97 28%
Q1 2023 $0.95 $0.95 NOK 10.328 $7.50 43%
2022 $1.68 $1.28 NOK 12.834 $7.89 16%
2021 $1.33 $0.56 NOK 4.82 $5.74 10%
2020 $1.76 $0.84 NOK 7.494 $6.86 12%
2019 $1.97 $0.85 NOK 7.807 $8.41 10%
2018 ($0.51) - - $2.98 0%
2017 ($0.30) - - $4.71 0%
2016 $0.18 $0.09 NOK 0.738 $4.20 2%
2015 $2.43 $1.46 NOK 12.137 $8.30 18%
2014 $1.87 $1.91 NOK 13.37 $7.05 27%
2013 $0.92 $0.15 NOK 0.9 $9.51 3%

[1] BW LPG was dual-listed on the NYSE on 29 April 2024. Amount shown for quarters before our dual-listing were converted using the prevailing system exchange rate retrieved at quarter's end.