Frontline agrees to sell two 2017-built VLCCs for $270 million
FRO•Special dividend planned
The board plans a one-time special dividend of USD 0.80 per share, subject to completion of the sale.
Frontline to sell two VLCCs
Frontline agreed to sell two 2017-built VLCCs for USD 270 million, with vessel delivery expected in Q3 2026.
Net cash proceeds are seen at about USD 179 million following debt repayment, with an expected gain of about USD 110 million in Q3 2026.
