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Sunday, July 3, 2022

OceanPal Inc. (OP) stock gained after-hours; here is why?

OceanPal Inc. (OP) stock gained in the after-hours market after announcing its financial statements for the recent period. OP’s stock price is $0.82, gaining more than 5% compared to the previous closing price. OP stock closed at $0.78 at the end of the last trading session. OP stock volume traded in the previous trading session was around 9.42 million shares. Last year, its stock traded in the range of $0.39 to $12.09.


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OP: Key Financials

  • Since its inception, the company has provided financial details from April 15, 2021, to December 31, 2021.
  • OceanPal Inc. (OP) announced revenue of $1.334 million from April 15, 2021, to December 31, 2021.
  • The company had a net income of $134K in the described period.
  • Its net income attributable to shareholders was $65k.
  • Diluted and basic earnings per share were $0.01 in the above-mentioned period.
  • As of December 31, 2021, the company had cash and cash equivalents of approximately $1.673 million remaining.

OP: Dividend Update

OceanPal Inc. (OP) has released an update on the company’s dividend policy. During the fourth quarter of the fiscal year 2021, the Company issued a cash dividend on its common stock of $0.05 per share. The cash dividend will be paid on or around April 11, 2022, to all common shareholders who held shares as of April 1, 2022, and were entitled to receive it on or before that date. OceanPal has 29.83 million shares of common stock issued and outstanding, according to the most recent available data.

OP: Recent IPO

OceanPal Inc. (OP) became a publicly listed business on November 29, 2021, when Diana Shipping Inc. (Diana Shipping) distributed all of the Company’s ordinary shares to its stockholders (the Spin-Off). For every 10 Diana Shipping shares purchased, one share of OceanPal common stock was given to each shareholder.

Conclusion

The company has recently gone public and is announcing results for a period of around seven months. The company has shown a good performance and is expecting to grow significantly. The announcement of dividend policy is to gain the trust of its shareholders.

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