SOURCE: Danaos Corporation

January 18, 2007 16:05 ET

Danaos Corporation Declares First Quarterly Dividend of $0.44 Per Common Share

ATHENS, GREECE -- (MARKET WIRE) -- January 18, 2007 -- Danaos Corporation (NYSE: DAC) announced that its Board of Directors today declared a dividend of $0.44 per common share for the fourth quarter of 2006. The dividend is payable on February 14, 2007 to all shareholders of record as of January 29, 2007. This dividend represents the first cash dividend of Danaos as a public entity.

Dimitri Andritsoyiannis, Vice President and Chief Financial Officer of Danaos, commented: "Consistent with our declared strategy in the capital markets, we announced today our first quarterly cash dividend of $0.44 per share corresponding to the fourth quarter 2006 operations of our company. Danaos' strategy of chartering its containerships for long periods provides steady cash flows and enables it to pay significant quarterly dividends. Our corporate objective is accretive growth which will in turn increase our earnings per share and shareholder value. We have elected to follow a high- quality dividend policy for our shareholders while at the same time retaining cash in order to further fuel our growth objectives. We believe this dividend policy distinguishes Danaos and creates value to our shareholders both in the short and in the long run."

About Danaos Corporation

Danaos Corporation is an international owner of containerships, chartering its vessels to many of the world's largest liner companies. Its current fleet of 31 containerships aggregating 140,137 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 and market capitalization. Furthermore, the company has on order 15 additional containerships aggregating 75,124 TEU with scheduled deliveries up to the end of 2009. The company's shares trade on the New York Stock Exchange under the symbol "DAC."

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Contact Information

  • For further information please contact:

    Company Contact:

    Dimitri Andritsoyiannis
    Chief Financial Officer
    Danaos Corporation
    Athens, Greece
    Tel: +30 210 419 6481

    Iraklis Prokopakis
    Chief Operating Officer
    Danaos Corporation
    Athens, Greece
    Tel. +30 210 419 6400

    Investor Relations and Financial Media:
    Nicolas Bornozis
    Capital Link, Inc.
    New York
    Tel. 212-661-7566