Singapore's First Ship Lease Trust (FSL Trust) is to pay a small annual dividend in its first payout to shareholders since 2012, thanks to rising tanker rates in the fourth quarter.

The company disclosed the dividend as it reported net earnings in the final three months were $3.5m, which was its fourth-straight quarter of profit.

First Ship Lease Trust chairman Stathis Topouzoglou is rewarding investors Photo: FSL Trust

The figure compared to a loss of $18.5m