Navigator Holdings intends to increase quarterly dividend to 7c per share

The board of directors of Navigator Holdings (NVGS) approved a revision to the company’s existing capital return policy first announced in May 2023. Commencing with the dividend relating to the third quarter of 2025, the company intends, subject to operating needs and other circumstances, to pay an increased quarterly cash dividend of 7c per share and return additional capital in the form of further cash dividends and/or share repurchases, such that the revised fixed element and, if any, the variable component, together equal 30% of net income for the applicable quarter, increased from 25% of net income in the existing policy. Declarations of any dividends in the future, and the amount of any such dividends under the policy, are subject to approval by the company’s board. Pursuant to the company’s revised capital return policy, the board declared a cash dividend of 7c per share of the company’s common stock for the quarter ended September 30, payable on December 16 to all shareholders of record as of the close of business U.S. Eastern Time on November 25. Also as part of the policy for the quarter ended September 30, the company expects to repurchase approximately $5.4M of its common stock between November 7 and December 31, subject to operating needs, market conditions, legal requirements, stock price and other circumstances, such that the dividend and share repurchases together equal 30% of net income for the quarter ended September 30.