PARAGON
Reported net income of USD 18.9m in the 3rd Q, from net loss
NOV, 13.2008
Paragon Shipping, a global shipping transportation company specializing in drybulk cargoes, listed in Nasdaq (Michael Bodouroglou, Chairman & CEO), announced that time charter revenue for the 3rd Q of 2008 was USD 43.6m, compared to USD 19m for the 3rd Q of 2007. The company reported net income of USD 18.9m, from net loss of USD 14.2m of 2007. EBITDA was USD 30.6m, compared to USD 7.4m.
Paragon’s Board of Directors declared a quarterly dividend of USD 0.50 per share, payable on November 27, 2008, to shareholders of record as of November 17.
The Company’s current fleet consists of 12 vessels with a total carrying capacity of 765,137 dwt.
