Oslo-listed Avance is paying out $1 per share for the quarter, which covered four months following the update of the company’s financial year to align with the calendar.
Eirik Haavaldsen of Pareto Securities said: "Avance delivered like clockwork in Q4 (four months) with average time charter equivalent rates of $70,324 in line with our $70,000 per day estimate.”
He added: “However, in the strong market what matters are the dividends in our view, and management/board shows confidence in upping it to $1.0/share,
