Okeanis Eco TankersNYSE: ECO

ODP, ECO and TRMK made it to the Zacks Rank #1 (Strong Buy) value stocks list on June 20, 2024.

ATHENS, Greece, June 04, 2024 (GLOBE NEWSWIRE) -- Reference is made to the key information relating to Q1 2024 dividend announced by Okeanis Eco Tankers Corp. ("OET" or the "Company") (NYSE: ECO / OSE: OET) on May 16, 2024. The Company's shares will be traded ex dividend USD 1.10 per common share on the Oslo Stock Exchange from today, June 4, 2024 and on the New York Stock Exchange from tomorrow, June 5, 2024.

ATHENS, Greece, May 21, 2024 (GLOBE NEWSWIRE) -- Okeanis Eco Tankers Corp. (“we”, the “Company”, “OET” or “Okeanis”) (NYSE:ECO / OSE:OET) is pleased to announce the following financings update relating to its fleet.

ECO achieved impressive results in 2023 due to the high rates for VLCC and Suezmax vessels. The company saw a 112% increase in operating cash flow compared to the previous year. In FY23, ECO generated $155 million in unlevered free cash flow, or $5.41 per share, with a 10.7% free cash flow yield. During the year, ECO distributed $159 million to shareholders, resulting in a 14.2% trailing twelve-month yield.

Okeanis Eco Tankers is my top choice for capitalizing on the bull market in the crude tanker sector. Okeanis has competitive advantages, including a newer fleet, commercial outperformance, and a transparent and shareholder-friendly corporate policy. Q4 was unremarkable, but Q1 is almost certain to be much stronger.

Okeanis Eco Tankers has a young fleet that is 100% equipped with scrubbers, giving it a competitive advantage in the tanker industry. The company's financial performance, margins, and returns are superior to its competitors, and it pays dividends with a TTM yield of 17.39%. ECO maintains adequate liquidity levels – $76.5 million cash, LTM operating income of $226 million, and LTM operating cash flow of $205 million.