American Shipping Company ASA announces results for the second quarter ending 30 June 2016

Highlights:

Increasing normalized EBITDA of MUSD 25.1 for Q2 2016 vs. MUSD 24.3 in Q1 2015 (Normalized EBITDA: base bareboat revenue, plus profit share, plus DPO, less SG&A)

Declared Q2 2016 dividend of USD 0.124 per share, which equates to an annualized dividend yield of 15.9% based on the share price as of 15 August 2016.

Q2 dividend is in line with previous guidance of 15% year on year dividend growth for 2016

Backlog of secured bareboat revenue of MUSD 358 with average weighted tenor of 4.1 years