Overseas Shipholding announces 1st dividend since international unit spinoff

Overseas Shipholding Group announced that its Board of Directors has declared a cash dividend of 6c per share on its Class A Common Stock. “The dividend, the first dividend declared by OSG since the spinoff of its international division in 2016, ” will be paid on January 4 to stockholders of record at the close of business on December 21…Under the share repurchase program, the Company may repurchase shares from time to time in open market transactions or in privately negotiated transactions. The timing and amounts of any purchases will be based on market conditions and other factors, such as price, in accordance with applicable laws. The program has no time limit, may be suspended, modified or discontinued at any time, and does not obligate OSG to purchase any particular amount of its common stock. The Company intends to fund the share repurchase program with excess cash.