SOURCE: Danaos Corporation

January 23, 2008 09:31 ET

Danaos Corporation Declares Dividend of $0.465 per Share for the Fourth Quarter of 2007

ATHENS, GREECE--(Marketwire - January 23, 2008) - Danaos Corporation (NYSE: DAC) announced that it has declared a dividend of $0.465 per common share for the fourth quarter of 2007. The dividend is payable on February 14, 2008 to all shareholders of record as of January 30, 2008.

Mr. Andritsoyiannis, Vice President and Chief Financial Officer of Danaos, commented: "Consistent with our strategy in the capital markets we announced today our cash dividend of $0.465 per share corresponding to the fourth quarter 2007 operations of our company. Danaos' strategy of chartering its containerships for very long periods at fixed rates significantly hedges against charter rate fluctuations and thus creates a profile for a secure quarterly dividend payment. Our corporate objective pursues accretive growth which will in turn increase our earnings per share and shareholder value. We have orders for 37 more containerships to be delivered in the next three years, all of which have already arranged long term time charters at fixed rates with some of the largest liner companies in the world. We have elected to follow a high-quality dividend policy for our shareholders while at the same time we retain cash in order to further fuel our growth objectives. We believe this solid dividend policy distinguishes Danaos from its peers and creates value to our shareholders especially in times of high volatility in the equity capital markets."

About Danaos Corporation

Danaos Corporation is an international owner of containerships, chartering its vessels to many of the world's largest liner companies. Our current fleet of 36 containerships aggregating 146,219 TEUs ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Danaos is the largest US listed containership company based on fleet size. Furthermore, the company has a contracted fleet of 37 additional containerships aggregating 250,068 TEU with scheduled deliveries up to 2011. The company's shares trade on the New York Stock Exchange under the symbol "DAC."

Visit our website at www.danaos.com

Contact Information

  • For further information please contact:

    Company Contact:

    Dimitri Andritsoyiannis
    Chief Financial Officer
    Danaos Corporation
    Athens, Greece
    Tel: +30 210 419 6481
    E-Mail: cfo@danaos.com

    Iraklis Prokopakis
    Chief Operating Officer
    Danaos Corporation
    Athens, Greece
    Tel. +30 210 419 6400
    E-Mail: coo@danaos.com

    Investor Relations and Financial Media:
    Nicolas Bornozis
    President
    Capital Link, Inc.
    New York
    Tel. 212-661-7566
    E-Mail: nbornozis@capitallink.com