Declared Dividend • Aug 09
Second quarter dividend of US$5.25 announced Shareholders will receive a dividend of US$5.25. Ex-date: 14th August 2026 Payment date: 21st August 2026 Dividend yield will be 15%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (85% earnings payout ratio) but not covered by cash flows (dividend approximately 8x free cash flows). The dividend has increased by an average of 30% per year over the past 6 years. However, payments have been volatile during that time. EPS is expected to decline by 77% over the next 3 years. Since a fall of 5.6% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk. New Risk • Aug 05
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 30% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 30% per year for the foreseeable future. High level of non-cash earnings (30% accrual ratio). Minor Risks High level of debt (57% net debt to equity). Dividend is not well covered by cash flows (dividend per share is over 6x cash flows per share). Shareholders have been diluted in the past year (21% increase in shares outstanding). Announcement • Aug 05
Okeanis Eco Tankers Corp. Declares Dividend for the Second Quarter of 2026, Payable on August 21, 2026 Okeanis Eco Tankers Corp. announced that the Company's board of directors has declared a dividend on its common shares for the Second Quarter of 2026. Dividend amount: USD 5.25 per common share. Record date OSE and NYSE: August 14, 2026, Payment date: August 21, 2026. Last day including right OSE: August 12, 2026, the last date on which the Company’s common shares trading on the OSE will include the entitlement to the Dividend. Last day including right NYSE: August 13, 2026, the last date on which the Company’s common shares trading on the NYSE will include the entitlement to the Dividend. Ex-date OSE: August 13, 2026, the date on which the Company’s common shares will begin trading on the OSE without the entitlement to the Dividend. Ex-date NYSE: August 14, 2026, the date on which the Company’s common shares will begin trading on the NYSE without the entitlement to the Dividend. Buy Or Sell Opportunity • May 28
Now 25% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to US$48.12. The fair value is estimated to be US$63.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 11%. Revenue is forecast to decline by 22% in 2 years. Earnings are forecast to grow by 3.6% in the next 2 years. Declared Dividend • May 18
First quarter dividend increased to US$2.00 Dividend of US$2.00 is 525% higher than last year. Ex-date: 28th May 2026 Payment date: 5th June 2026 Dividend yield will be 9.1%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (51% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.8% per year over the past 6 years. However, payments have been volatile during that time. EPS is expected to decline by 36% over the next 3 years. However, it would need to fall by 43% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • May 14
First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2026 results: EPS: US$2.31 (up from US$0.39 in 1Q 2025). Revenue: US$170.2m (up 112% from 1Q 2025). Net income: US$88.3m (up US$75.8m from 1Q 2025). Profit margin: 52% (up from 16% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) exceeded analyst estimates by 33%. Revenue is expected to decline by 12% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.6%. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 40% per year, which means it is well ahead of earnings. Announcement • May 14
Okeanis Eco Tankers Corp. Declares Dividend for the First Quarter of the Fiscal Year 2025, Payable on June 5, 2026 Okeanis Eco Tankers Corp. announced that the Company's board of directors has declared first quarter dividend on its common shares for the Fiscal Year 2026. Dividend amount: USD 2.00 per common share. Declared currency: USD. Dividends payable to common shares registered in the Euronext VPS will be distributed in NOK. Date of Board approval: May 13, 2026. Last day including right OSE: May 26, 2026, the last date on which the Company’s common shares trading on the OSE will include the entitlement to the Dividend. Last day including right NYSE: May 27, 2026, the last date on which the Company’s common shares trading on the NYSE will include the entitlement to the Dividend. Ex-date OSE: May 27, 2026, the date on which the Company’s common shares will begin trading on the OSE without the entitlement to the Dividend. Ex-date NYSE: May 28, 2026, the date on which the Company’s common shares will begin trading on the NYSE without the entitlement to the Dividend. Record date OSE and NYSE: May 28, 2026. Payment date: June 5, 2026. Due to the implementation of CSDR in Norway, the Dividend payable on common shares that are registered in the Euronext VPS is expected to be distributed to Euronext VPS shareholders on or about June 10, 2026. Reported Earnings • Mar 26
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: US$3.77 (up from US$3.38 in FY 2024). Revenue: US$391.5m (flat on FY 2024). Net income: US$123.0m (up 13% from FY 2024). Profit margin: 31% (up from 28% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 16%. Revenue is expected to decline by 4.1% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 4.1%. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to US$52.63, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 13x in the Oil and Gas industry in the US. Total returns to shareholders of 239% over the past three years. Declared Dividend • Feb 22
Fourth quarter dividend of US$1.55 announced Shareholders will receive a dividend of US$1.55. Ex-date: 3rd March 2026 Payment date: 10th March 2026 Dividend yield will be 6.7%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (88% earnings payout ratio) but not covered by cash flows (182% cash payout ratio). The dividend has increased by an average of 8.8% per year over the past 6 years. However, payments have been volatile during that time. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 19
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: US$3.77 (up from US$3.38 in FY 2024). Revenue: US$391.5m (flat on FY 2024). Net income: US$123.0m (up 13% from FY 2024). Profit margin: 31% (up from 28% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 16%. Revenue is expected to decline by 3.2% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.8%. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 36% per year, which means it is well ahead of earnings. Announcement • Feb 19
Okeanis Eco Tankers Corp. Announces Fourth Quarter Dividend for the Fiscal Year 2025, Payable on March 10, 2026 Okeanis Eco Tankers Corp. announced that the Company's board of directors has declared fourth quarter dividend on its common shares for the Fiscal Year 2025. Dividend amount: USD 1.55 per common share. Date of Board approval: February 18, 2026. Declared currency: USD. Dividends payable to common shares registered in the Euronext VPS will be distributed in NOK. Date of Board approval: February 18, 2026. Last day including right OSE: February 27, 2026, the last date on which the Company’s common shares trading on the OSE will include the entitlement to the Dividend. Last day including right NYSE: March 2, 2026, the last date on which the Company’s common shares trading on the NYSE will include the entitlement to the Dividend. Ex-date OSE: March 2, 2026, the date on which the Company’s common shares will begin trading on the OSE without the entitlement to the Dividend. Ex-date NYSE: March 3, 2026, the date on which the Company’s common shares will begin trading on the NYSE without the entitlement to the Dividend. Record date OSE and NYSE: March 3, 2026. Payment date: March 10, 2026. Due to the implementation of CSDR in Norway, the Dividend payable on common shares that are registered in the Euronext VPS is expected to be distributed to Euronext VPS shareholders on or about March 13, 2026. Announcement • Jan 23
Okeanis Eco Tankers Corp. has completed a Follow-on Equity Offering in the amount of $129.999996 million. Okeanis Eco Tankers Corp. has completed a Follow-on Equity Offering in the amount of $129.999996 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 3,611,111
Price\Range: $36
Discount Per Security: $1.35
Transaction Features: Registered Direct Offering New Risk • Jan 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 21% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risks Dividend is not well covered by cash flows (107% cash payout ratio). Shareholders have been diluted in the past year (21% increase in shares outstanding). Announcement • Jan 21
Okeanis Eco Tankers Corp. has filed a Follow-on Equity Offering. Okeanis Eco Tankers Corp. has filed a Follow-on Equity Offering.
Security Name: Common Shares
Security Type: Common Stock
Transaction Features: Registered Direct Offering Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to US$38.05, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Oil and Gas industry in the US. Total returns to shareholders of 176% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$64.60 per share. Announcement • Dec 22
Okeanis Eco Tankers Corp., Annual General Meeting, May 29, 2026 Okeanis Eco Tankers Corp., Annual General Meeting, May 29, 2026. Upcoming Dividend • Nov 25
Upcoming dividend of US$0.75 per share Eligible shareholders must have bought the stock before 02 December 2025. Payment date: 11 December 2025. Payout ratio and cash payout ratio are on the higher end at 89% and 88% respectively. Trailing yield: 8.2%. Within top quartile of American dividend payers (4.5%). Higher than average of industry peers (4.1%). Announcement • Nov 21
Okeanis Eco Tankers Corp. has completed a Follow-on Equity Offering in the amount of $114.999978 million. Okeanis Eco Tankers Corp. has completed a Follow-on Equity Offering in the amount of $114.999978 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 3,239,436
Price\Range: $35.5
Discount Per Security: $1.15375
Transaction Features: Registered Direct Offering Announcement • Nov 20
Okeanis Eco Tankers Corp. has filed a Follow-on Equity Offering. Okeanis Eco Tankers Corp. has filed a Follow-on Equity Offering.
Security Name: Common Shares
Security Type: Common Stock
Transaction Features: Registered Direct Offering Price Target Changed • Nov 18
Price target increased by 14% to US$39.77 Up from US$34.77, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of US$38.94. Stock is up 62% over the past year. The company is forecast to post earnings per share of US$3.86 for next year compared to US$3.38 last year. Reported Earnings • Nov 14
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: US$0.75 (up from US$0.45 in 3Q 2024). Revenue: US$90.6m (up 6.7% from 3Q 2024). Net income: US$24.1m (up 65% from 3Q 2024). Profit margin: 27% (up from 17% in 3Q 2024). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) also surpassed analyst estimates by 111%. Revenue is expected to decline by 11% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.1%. Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$39.00, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 11x in the Oil and Gas industry in the US. Total returns to shareholders of 74% over the past year. Announcement • Nov 13
Okeanis Eco Tankers Corp. Announces Dividend for Third Quarter Ended June 30, 2025, Payable on December 11, 2025 Okeanis Eco Tankers Corp.’s board of directors declared a dividend of $0.75 per common share to shareholders for the third quarter ended September 30, 2025. Dividends payable to common shares registered in the Euronext VPS will be distributed in NOK. The cash payment will be paid on December 11, 2025, to shareholders of record as of December 2, 2025. The common shares will be traded ex-dividend on the NYSE as from and including December 2, 2025, and the common shares will be traded ex-dividend on the Oslo Stock Exchange as from and including December 1, 2025. Due to the implementation of CSDR in Norway, the Dividend payable on common shares that are registered in the Euronext VPS is expected to be distributed to Euronext VPS shareholders on or about December 16, 2025. Announcement • Oct 13
Okeanis Eco Tankers Corp. Announces Director Resignations, Effective October 10, 2025 Okeanis Eco Tankers Corp. announced that each of Robert Knapp and Joshua Nemser have decided to resign as directors of the Company, effective October 10, 2025. The two resignations did not result from any disagreement with the Company or its management. The board of directors of the Company has not yet determined whether to reduce the size of the board or to fill the relevant vacancies. The board of directors remains comprised of a majority of independent directors. The composition of each of the committees of the board of directors remains the same and is unaffected by these resignations, except for the remuneration committee, which remains comprised of Charlotte Stratos and Francis “Frank” Dunne. Declared Dividend • Aug 15
Second quarter dividend of US$0.70 announced Shareholders will receive a dividend of US$0.70. Ex-date: 22nd August 2025 Payment date: 5th September 2025 Dividend yield will be 7.0%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (66% earnings payout ratio) but not covered by cash flows (104% cash payout ratio). The dividend has increased by an average of 7.0% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 35% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 13
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: US$0.83 (down from US$1.23 in 2Q 2024). Revenue: US$93.9m (down 16% from 2Q 2024). Net income: US$26.9m (down 32% from 2Q 2024). Profit margin: 29% (down from 35% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) also surpassed analyst estimates by 85%. Revenue is expected to decline by 9.4% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 4.0%. Announcement • Aug 13
Okeanis Eco Tankers Corp. Announces Dividend for the Second Quarter Ended June 30, 2025, Payable on September 5, 2025 Okeanis Eco Tankers Corp.’s board of directors declared a dividend of $0.70 per common share to shareholders for the second quarter ended June 30, 2025. Dividends payable to common shares registered in the Euronext VPS will be distributed in NOK. The cash payment will be paid on September 5, 2025, to shareholders of record as of August 22, 2025. The common shares will be traded ex-dividend on the NYSE as from and including August 22, 2025, and the common shares will be traded ex-dividend on the Oslo Stock Exchange as from and including August 21, 2025. Due to the implementation of the Central Securities Depository Regulation (CSDR) in Norway, dividends payable on common shares registered with Euronext VPS are expected to be distributed to Euronext VPS shareholders on or about September 10, 2025. Announcement • May 31
Okeanis Eco Tankers Corp. Announces Board and Committee Changes Okeanis Eco Tankers Corp. announced that the 2025 Annual Meeting of the Shareholders of the Company held on May 30, 2025 where to elected Dimitrios Papalexopoulos as director and the Board of Directors of the Company (the “Board”) approved the expansion of the size of each of its standing committees, effective June 1, 2025, and designated Frank Dunne to each such committee. The committees therefore are now comprised of the following directors: Audit Committee: Charlotte Stratos (Chair), Petros Siakotos and Frank Dunne. Remuneration Committee: Charlotte Stratos (Chair), Robert Knapp and Frank Dunne. Nominating/Corporate Governance Committee: Petros Siakotos (Chair), Charlotte Stratos and Frank Dunne. Declared Dividend • May 19
First quarter dividend of US$0.32 announced Shareholders will receive a dividend of US$0.32. Ex-date: 3rd June 2025 Payment date: 12th June 2025 Dividend yield will be 8.8%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (27% earnings payout ratio) but not covered by cash flows (126% cash payout ratio). The dividend has increased by an average of 14% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 18% over the next year, which should provide support to the dividend and adequate earnings cover. New Risk • May 15
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risks Dividend is not well covered by cash flows (117% cash payout ratio). Profit margins are more than 30% lower than last year (22% net profit margin). Reported Earnings • May 15
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: US$0.39 (down from US$1.29 in 1Q 2024). Revenue: US$80.1m (down 28% from 1Q 2024). Net income: US$12.6m (down 70% from 1Q 2024). Profit margin: 16% (down from 37% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates by 63%. Revenue is expected to decline by 23% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.6%. Announcement • May 15
Okeanis Eco Tankers Corp. Declares Dividend for First Quarter of 2025, Payable on June 12, 2025 Okeanis Eco Tankers Corp. board of directors declared a dividend of $0.32 per common share to shareholders. Dividends payable to common shares registered in the Euronext VPS will be distributed in NOK. The cash payment will be paid on June 12, 2025, to shareholders of record as of June 3, 2025. The common shares will be traded ex-dividend on the NYSE as from and including June 3, 2025, and the common shares will be traded ex-dividend on the Oslo Stock Exchange as from and including June 2, 2025. Due to the implementation of the Central Securities Depository Regulation (CSDR) in Norway, dividends payable on common shares registered with Euronext VPS are expected to be distributed to Euronext VPS shareholders on or about June 17, 2025. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$18.54, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 9x in the Oil and Gas industry in the US. Total returns to shareholders of 91% over the past three years. Reported Earnings • Apr 03
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$3.38 (down from US$4.51 in FY 2023). Revenue: US$393.2m (down 4.8% from FY 2023). Net income: US$108.9m (down 25% from FY 2023). Profit margin: 28% (down from 35% in FY 2023). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.0%. Revenue is expected to decline by 26% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.8%. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Declared Dividend • Feb 23
Fourth quarter dividend reduced to US$0.35 Dividend of US$0.35 is 47% lower than last year. Ex-date: 3rd March 2025 Payment date: 17th March 2025 Dividend yield will be 14%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has increased by an average of 8.4% per year over the past 5 years. However, payments have been volatile during that time. Announcement • Feb 21
Okeanis Eco Tankers Corp. Declares Dividend for the Fourth Quarter of 2024, Payable on March 17, 2025 Okeanis Eco Tankers Corp. announced that the board of directors has declared a dividend on its common shares. Dividend amount: USD 0.35 per common share. Date of Board approval: February 19, 2025. Last day including right OSE: February 27, 2025, the last date on which the Company’s common shares trading on the OSE will include the entitlement to the Dividend. Last day including right NYSE: February 28, 2025, the last date on which the Company’s common shares trading on the NYSE will include the entitlement to the Dividend. Ex-date OSE: February 28, 2025, the date on which the Company’s common shares will begin trading on the OSE without the entitlement to the Dividend. Ex-date NYSE: March 3, 2025, the date on which the Company’s common shares will begin trading on the NYSE without the entitlement to the Dividend. Record date OSE and NYSE: March 3, 2025. Payment date: March 17, 2025. Due to the implementation of CSDR in Norway, the Dividend payable on common shares that are registered in the Euronext VPS is expected to be distributed to Euronext VPS shareholders on or about March 20, 2025. Reported Earnings • Feb 20
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$3.38 (down from US$4.51 in FY 2023). Revenue: US$393.2m (down 4.8% from FY 2023). Net income: US$108.9m (down 25% from FY 2023). Profit margin: 28% (down from 35% in FY 2023). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.0%. Revenue is expected to decline by 14% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 4.6%. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. New Risk • Feb 20
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.5% per year for the foreseeable future. Minor Risks High level of debt (145% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Price Target Changed • Jan 16
Price target decreased by 9.1% to US$40.00 Down from US$44.00, the current price target is an average from 5 analysts. New target price is 68% above last closing price of US$23.86. Stock is down 16% over the past year. The company is forecast to post earnings per share of US$3.49 for next year compared to US$4.51 last year. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$24.27, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 11x in the Oil and Gas industry in the US. Total returns to shareholders of 212% over the past three years. Announcement • Dec 24
Okeanis Eco Tankers Corp., Annual General Meeting, May 30, 2025 Okeanis Eco Tankers Corp., Annual General Meeting, May 30, 2025. Recent Insider Transactions • Nov 21
Chief Financial Officer recently bought US$52k worth of stock On the 12th of November, Iraklis Sbarounis bought around 2k shares on-market at roughly US$23.25 per share. This transaction amounted to 36% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Iraklis has been a buyer over the last 12 months, purchasing a net total of US$159k worth in shares. Recent Insider Transactions • Nov 17
Chief Financial Officer recently bought US$52k worth of stock On the 12th of November, Iraklis Sbarounis bought around 2k shares on-market at roughly US$23.25 per share. This transaction amounted to 36% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Iraklis has been a buyer over the last 12 months, purchasing a net total of US$159k worth in shares. Upcoming Dividend • Nov 13
Upcoming dividend of US$0.45 per share Eligible shareholders must have bought the stock before 18 November 2024. Payment date: 04 December 2024. Trailing yield: 12%. Within top quartile of American dividend payers (4.3%). Higher than average of industry peers (3.9%). Reported Earnings • Nov 10
Third quarter 2024 earnings released: EPS: US$0.45 (vs US$0.60 in 3Q 2023) Third quarter 2024 results: EPS: US$0.45 (down from US$0.60 in 3Q 2023). Revenue: US$84.9m (down 4.6% from 3Q 2023). Net income: US$14.5m (down 25% from 3Q 2023). Profit margin: 17% (down from 22% in 3Q 2023). The decrease in margin was primarily driven by lower revenue. Revenue is expected to decline by 7.7% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.1%. Announcement • Nov 08
Okeanis Eco Tankers Corp. Declares Dividend, Payable on December 4, 2024 The board of directors of Okeanis Eco Tankers Corp. declared a dividend of $0.45 per common share to shareholders. Dividends payable to common shares registered in the Euronext VPS will be distributed in NOK. The cash payment will be classified as a return of paid-in-capital and will be paid on December 4, 2024, to shareholders of record as of November 18, 2024. The common shares will be traded ex-dividend on the NYSE as from and including November 18, 2024, and the common shares will be traded ex-dividend on the Oslo Børs as from and including November 15, 2024. Due to the implementation of the Central Securities Depository Regulation (CSDR) in Norway, dividends payable on common shares registered with Euronext VPS are expected to be distributed to Euronext VPS shareholders on or about December 9, 2024. Reported Earnings • Aug 11
Second quarter 2024 earnings released: EPS: US$1.23 (vs US$1.64 in 2Q 2023) Second quarter 2024 results: EPS: US$1.23 (down from US$1.64 in 2Q 2023). Revenue: US$112.0m (down 6.5% from 2Q 2023). Net income: US$39.6m (down 25% from 2Q 2023). Profit margin: 35% (down from 44% in 2Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue is expected to decline by 6.3% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 1.9%. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 54% per year, which means it is significantly lagging earnings growth. Announcement • Aug 09
Okeanis Eco Tankers Corp. Declares Dividend, Payable on September 5, 2024 The board of directors of Okeanis Eco Tankers Corp. declared a dividend of $1.10 per common share to shareholders. Dividends payable to common shares registered in the Euronext VPS will be distributed in NOK. The cash payment will be classified as a return of paid-in-capital and will be paid on September 5, 2024, to shareholders of record as of August 21, 2024. The common shares will be traded ex-dividend on the NYSE as from and including August 21, 2024, and the common shares will be traded ex-dividend on the Oslo Børs as from and including August 20, 2024. Due to the implementation of the Central Securities Depository Regulation (CSDR) in Norway, dividends payable on common shares registered with Euronext VPS are expected to be distributed to Euronext VPS shareholders on or about September 10, 2024. Announcement • Jun 01
Okeanis Eco Tankers Corp. Approves the Election of Francis Dunne as Director Okeanis Eco Tankers Corp. at its Annual Meeting of the Shareholders held on May 31, 2024 approved the election of Francis Dunne as Director. Upcoming Dividend • May 28
Upcoming dividend of US$1.10 per share Eligible shareholders must have bought the stock before 04 June 2024. Payment date: 25 June 2024. Trailing yield: 11%. Within top quartile of American dividend payers (4.7%). Higher than average of industry peers (4.0%). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: US$1.29 (vs US$1.60 in 1Q 2023) First quarter 2024 results: EPS: US$1.29 (down from US$1.60 in 1Q 2023). Revenue: US$111.1m (down 1.3% from 1Q 2023). Net income: US$41.6m (down 20% from 1Q 2023). Profit margin: 37% (down from 46% in 1Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue is expected to decline by 7.1% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 2.2%. Announcement • May 18
Okeanis Eco Tankers Corp. Declares Dividend for the First Quarter of 2024, Payable on June 20, 2024 Okeanis Eco Tankers Corp. board of directors declared a dividend of $1.10 per common share to shareholders. Dividends payable to common shares registered in the Euronext VPS will be distributed in NOK. The cash payment will be classified as a return of paid-in-capital and will be paid on June 20, 2024, to shareholders of record as of June 5, 2024. The common shares will be traded ex-dividend on the NYSE as from and including June 5, 2024, and the common shares will be traded ex-dividend on the Oslo Børs as from and including June 4, 2024. Due to the implementation of Central Securities Depository Regulation (CSDR) in Norway, dividends payable on common shares registered with Euronext VPS are expected to be distributed to Euronext VPS shareholders on or about June 25, 2024. Reported Earnings • Mar 05
Full year 2023 earnings released: EPS: US$4.51 (vs US$2.63 in FY 2022) Full year 2023 results: EPS: US$4.51 (up from US$2.63 in FY 2022). Revenue: US$413.1m (up 52% from FY 2022). Net income: US$145.3m (up 72% from FY 2022). Profit margin: 35% (up from 31% in FY 2022). The increase in margin was driven by higher revenue. Revenue is expected to decline by 8.2% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 1.8%. Announcement • Feb 29
Okeanis Eco Tankers Corp. Announces Distribution for the Fourth Quarter of 2023, Payable on March 22, 2024 Okeanis Eco Tankers Corp. announced distribution of USD 0.66 per share for the fourth quarter of 2023, payable on March 22, 2024. Date of Board resolution: February 28, 2024. Last day including right: March 7, 2024. Ex-date: March 8, 2024. Record date: March 11, 2024. Due to the implementation of Central Securities Depository Regulation (CSDR) in Norway, the Dividend payable on common shares that are registered in the Euronext VPS is expected to be distributed to Euronext VPS shareholders on or about March 27, 2024. New Risk • Feb 01
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.0% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.0% per year for the foreseeable future. Minor Risks High level of debt (154% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • Jan 17
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.5% per year for the foreseeable future. Minor Risks High level of debt (154% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Dec 23
Okeanis Eco Tankers Corp. to Report Q1, 2024 Results on May 16, 2024 Okeanis Eco Tankers Corp. announced that they will report Q1, 2024 results on May 16, 2024 Announcement • Nov 10
Okeanis Eco Tankers Corp. Announces Distribution for the Third Quarter 2023 , Payable on November 22, 2023 Okeanis Eco Tankers Corp. announced distribution of USD 0.60 per share for the third quarter 2023, payable on November 22, 2023. Ex-date: November 14, 2023 and Record date: November 15, 2023. Announcement • Aug 12
Okeanis Eco Tankers Corp. Announces Distribution for the Second Quarter of 2023, Payable on September 8, 2023 Okeanis Eco Tankers Corp. will pay a capital distribution to shareholders through a write-down of paid-in capital. Distribution amount per share: USD 1.50 per share. Declared currency: USD. Payment to shares registered with Euronext VPS will be distributed in NOK. The ex-date is on August 31, 2023. The record date is on September 1, 2023. The payment date is on September 8, 2023. Announcement • May 13
Okeanis Eco Tankers Corp. Declares Cash Distribution for the First Quarter of 2023, Payable on June 9, 2023 Okeanis Eco Tankers Corp. declared cash distribution of USD 1.60 per share for the first quarter of 2023. Date of Board resolution: May 11, 2023; Last day including right: May 31, 2023; Ex-date: June 1, 2023; Record date: June 2, 2023 and Payment date: June 9, 2023. 
