Frontline LtdFRO
▲ PositiveCapitalrelevance
Sale generates $179M net proceeds and $110M gain, with special dividend of $0.80/share.
Impact on stocks 1
Energy
Frontline LtdFrontline plc has agreed to sell two 2017-built VLCCs for an aggregate price of $270 million, with delivery to the new owner expected in the third quarter of 2026. After repaying existing debt on the vessels, the transaction is expected to generate net cash proceeds of approximately $179 million and a gain of about $110 million. Subject to completion, the Board has determined to return the net cash proceeds to shareholders through a one-time special dividend of $0.80 per share.
Frontline LtdSale generates $179M net proceeds and $110M gain, with special dividend of $0.80/share.