International Seaways Declares $0.20 Dividend, Elects Directors
Ticker: INSW · Form: 8-K · Filed: Jun 18, 2024 · CIK: 1679049
Sentiment: neutral
Topics: dividend, board-election, officer-appointment
Related Tickers: INSW
TL;DR
INSW declared a $0.20 dividend, payable June 28th. Board changes also announced.
AI Summary
International Seaways, Inc. announced on June 12, 2024, that its Board of Directors has declared a quarterly cash dividend of $0.20 per share. This dividend is payable on or about June 28, 2024, to stockholders of record as of the close of business on June 18, 2024. The company also reported on the election of new directors and changes in certain officer positions.
Why It Matters
The dividend declaration provides a direct return to shareholders, while the board changes could signal shifts in company strategy or governance.
Risk Assessment
Risk Level: low — This filing primarily concerns routine corporate actions like dividend declarations and board elections, with no immediate financial distress or significant operational changes indicated.
Key Numbers
- $0.20 — Quarterly Dividend Per Share (Represents a direct cash return to shareholders.)
Key Players & Entities
- International Seaways, Inc. (company) — Filer
- $0.20 (dollar_amount) — Quarterly cash dividend per share
- June 12, 2024 (date) — Declaration date of dividend
- June 28, 2024 (date) — Payment date of dividend
- June 18, 2024 (date) — Record date for dividend
FAQ
What is the amount of the quarterly cash dividend declared by International Seaways?
The quarterly cash dividend declared is $0.20 per share.
On what date was the dividend declared?
The dividend was declared on June 12, 2024.
When is the dividend expected to be paid?
The dividend is expected to be paid on or about June 28, 2024.
Who is eligible to receive this dividend?
Stockholders of record as of the close of business on June 18, 2024, are eligible to receive the dividend.
Besides the dividend, what other corporate actions were reported?
The filing also reported on the election of directors and changes in certain officer positions.
Filing Stats: 904 words · 4 min read · ~3 pages · Grade level 11.2 · Accepted 2024-06-18 06:04:47
Key Financial Figures
- $15,000 — sation of each non-employee director by $15,000 (to $235,000 for the Chair and to $115,
- $235,000 — ch non-employee director by $15,000 (to $235,000 for the Chair and to $115,000 for the o
- $115,000 — 5,000 (to $235,000 for the Chair and to $115,000 for the other non-employee directors).
Filing Documents
- tm2417467d1_8k.htm (8-K) — 37KB
- 0001104659-24-072514.txt ( ) — 254KB
- insw-20240612.xsd (EX-101.SCH) — 3KB
- insw-20240612_def.xml (EX-101.DEF) — 26KB
- insw-20240612_lab.xml (EX-101.LAB) — 36KB
- insw-20240612_pre.xml (EX-101.PRE) — 25KB
- tm2417467d1_8k_htm.xml (XML) — 5KB
02 Departure of Certain Officers; Election of Directors;
Item 5.02 Departure of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 13, 2024, the Board of Directors of International Seaways, Inc. (the "C ompany ") increased the annual equity compensation of each non-employee director by $15,000 (to $235,000 for the Chair and to $115,000 for the other non-employee directors).
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders On June 12, 2024, the Company held its Annual Meeting of Stockholders for 2024 (the " Annual Meeting "). There were 49,049,288 shares of the Company's Common Stock outstanding on the record date for the Annual Meeting that were entitled to vote at such meeting, of which 42,074,363 shares were represented at the meeting by holders present in person or by proxy (constituting 85.77% of the shares outstanding and entitled to vote). At the Annual Meeting, stockholders (1) elected ten directors; (2) ratified the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for the year 2024; and (3) approved, in an advisory vote, the compensation of the Company's named executive officers (" NEO s") for 2023 as described in the Compensation Discussion and Analysis (" CD&A ") section and in the accompanying compensation tables and narrative in the Company's proxy statement in respect of the Annual Meeting (the " Proxy Statement "). A replay of the Annual Meeting is available at www.virtualshareholdermeeting.com/INSW2024, and can also be accessed via the Company's website. All of the nominees for director were duly elected to serve, subject to the Company's by-laws, as directors of the Company until the next annual meeting and until election and qualification of their successors. The tabulation of the votes cast for each nominee for director was as follows: NAME OF NOMINEE FOR DIRECTOR VOTED FOR WITHHELD AUTHORITY TO VOTE Doug Wheat 36,977,976 1,643,999 Darron M. Anderson 38,548,893 73,082 Timothy J. Bernlohr 38,266,492 355,483 Ian T. Blackley 38,045,588 576,387 A. Kate Blankenship 38,354,404 267,571 Randee E. Day 38,189,537 432,438 David I. Greenberg 38,256,227 365,748 Kristian K. Johansen 36,643,957 1,978,018 Craig H. Stevenson, Jr. 38,324,671 297,304 Lois K. Zabrocky 38,489,976 131,999 Re-election required that the nominee rec
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. INTERNATIONAL SEAWAYS, INC. (Registrant) Date: June 18, 2024 By: /s/ James D. Small III Name: James D. Small III Title: Chief Administrative Officer, Senior Vice President, Secretary and General Counsel