Dorian LPG expands fleet to 27 vessels, doubles dividend to $1.00/share, sells older VLGC

Filed May 27, 2026 · Period ending March 31, 2026 · Compared to 10-K May 29, 2025 · ~1 min read

Key Changes

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  Fleet grew from 25 to 27 VLGCs with delivery of ammonia-capable Areion (financed via $62.9M dual-tranche facility at 1.00-1.80% over SOFR) and sale of 2015-built Cobra for $81.9M net proceeds, strengthening fleet quality and ammonia transport capability.

  MD&A: Fleet Expansion & Asset Sales verify on EDGAR →
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  Board declared $1.00/share dividend ($42.8M total), double the prior comparable payout, signaling stronger cash generation; operating cash flow rose 21% to $210.1M despite dividend payments declining to $105.0M from $156.4M year-over-year.

  MD&A: Dividends & Cash Flow verify on EDGAR →
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  Long-term debt increased to $560.4M (from $551.9M) with near-term principal repayment obligation rising to $100.2M from $53.0M, reflecting Areion financing and higher scheduled amortization in FY2027.

  MD&A: Debt & Liquidity verify on EDGAR →