Seanergy Maritime Holdings accelerated in the second quarter of 2023. Despite the fact that the capes market was under pressure, the company managed to outperform its fleet by 20% in relation to the Baltic Capesize Index, throughout the first half of the year.
As a result the company closed the second quarter with revenues of 28.3 million dollars, compared with 32.8 million dollars last year, while also achieving adjusted earnings of 3.4 million dollars.
“Despite the difficult and volatile market environment, our financial results for the second quarter of 2023 were profitable,” the president and CEO of Seanergy, Stamatis Tsantanis, said.
He also underlined that in accordance with the company’s commitment to provide stable returns to shareholders, regardless of prevailing market conditions, it was decided to distribute a quarterly dividend of 0.025 per common share, while at the same time, share repurchases of 1.6 million dollars were completed in an average price of about 4.35 dollars, which is 23% below the stock’s current trading price.