v3.26.1
Subsequent Events
3 Months Ended
Jun. 30, 2026
Subsequent Events:  
Subsequent Events

17. Subsequent Events

Sale of Vessels and Prepayment of Long-term Debt

In July 2026, we completed the sale of our 2014-built VLGC Corsair and 2015-built VLGC Constellation receiving total vessel sale proceeds, net of commission, of $166.4 million. As of June 30, 2026, the carrying value of the two vessels totaled $102.8 million and the cumulative gain on sale of the vessels is expected to be approximately $63.5 million. Prior to the completion of the sales, we prepaid the $24.2 million outstanding balance of the associated debt of Corsair during the three months ended June 30, 2026, and in July 2026, we prepaid $23.9 million of the BALCAP Facility’s then outstanding principal related to the 2015-built VLGC Constellation.

Dividend

On July 16, 2026, we announced that our Board of Directors declared an irregular cash dividend of $1.00 per common share totaling approximately $42.8 million. The dividend is payable on or about August 12, 2026 to all shareholders of record as of the close of business on July 27, 2026.