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."
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