TOKYO (dpa-AFX) - Seaspan Corp. (SSW), an independent charter owner of containerships, reported first-quarter net earnings of $51.3 million or $0.51 per share, compared to $50.6 million or $0.53 per share last year.
On average, nine analysts polled by Thomson Reuters expected the company to earn $0.25 per share. Analysts' estimates typically exclude special items.
Revenue for the quarter rose to $152.09 million from $121.01 million in the comparable quarter last year, while eight analysts estimated revenue of $152.76 million for the quarter.
The company stated that on May 12, 2012, its board of directors declared a quarterly dividend of $0.25 per Class A common share, payable on June 8, 2012 to all shareholders of record as of May 29, 2012. This represents a 33.3% increase over the previous quarterly common share dividend.
With this dividend, Seaspan has increased its quarterly common share dividend by 150% since March 31, 2010. Seaspan expects common share dividends for the four quarters ending December 31, 2012 to total $1.00 per share.
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