Danaos Corporation

DAC: 6-K · asset sale

Danaos Corporation is exploring a carve-out and sale of a minority stake in its dry bulk segment and has mandated investment banks to advise on a potential equity placement and listing in the Norwegian market. The dry bulk business, held through Danaos Bulk Inc., comprises 11 Capesize vessels on the water plus four Newcastlemaxes under construction scheduled for delivery in 2028. The move is framed as part of Danaos' value creation and shareholder return strategy, though the company cautioned there is no assurance any transaction or listing will be completed.

SEC 6-K•16d ago

Danaos Corporation Declares Quarterly Dividend on Its Common Stock for the Third Quarter of 2026 and an Extraordinary Special Dividend

Danaos declared a quarterly dividend of $1.00 per share for the quarter ended September 30, 2026, payable October 22 to holders of record October 13. It also declared an extraordinary special dividend of $5.00 per share on the same record and payment dates, bringing the aggregate distribution to $6.00 per share. The large special payout signals surplus cash flow beyond the containership charter owner's routine return policy.

•24d ago

Danaos Corporation Reports Second Quarter and Half Year Results for the Period Ended June 30, 2026

Danaos reported Q2 operating revenue of $274.4 million, up 4.7% year-over-year, driven by a significant improvement in the drybulk segment where time charter equivalent rates jumped to $30,401 per day from $17,934 a year ago. Adjusted net income rose 13.8% to $133.1 million, or $7.29 per diluted share, while Adjusted EBITDA increased 6.1% to $186.8 million. The company added $683 million to its contracted revenue backlog, bringing the total to a record $4.6 billion, and declared a $0.90 per share dividend, maintaining its $300 million share repurchase authorization.

•2mo ago

Danaos Corporation Declares Quarterly Dividend on Its Common Stock for the Second Quarter of 2026

Danaos Corporation declared a quarterly cash dividend of $0.90 per share for the second quarter of 2026, payable on July 30 to shareholders of record as of July 21. The company operates a fleet of 75 containerships aggregating 477,491 TEUs, with an additional 29 vessels under construction totaling 184,550 TEUs. Danaos has also expanded into the dry bulk sector through the acquisition of 11 Capesize vessels and the order of four Newcastlemax newbuildings.

•3mo ago

DAC: 6-K · proxy statement

Danaos Corporation has set the date for its 2026 Annual Meeting of Stockholders for July 31, 2026, where shareholders will vote on the election of two Class II directors and the ratification of its independent auditors. Accompanying the proxy statement, the company released its financial results for the year ended December 31, 2025, reporting operating revenues of $1.043 billion and an adjusted EBITDA of $719 million. The company demonstrated robust financial health with a contracted revenue backlog of $4.3 billion and a net debt to Adjusted EBITDA ratio of 0.2x. Danaos generated $608 million in free cash flow, which supported the repurchase of 3.2 million shares for $235 million and an increase in the quarterly dividend to $0.90 per share, bringing the annual payout to $3.60. Strategically, Danaos expanded into the energy transportation sector through a partnership with Glenfarne Group on the Alaska LNG project and strengthened its balance sheet by issuing $500 million in senior unsecured notes. The company noted that 100% of its operating days are charter-covered for 2026, providing strong visibility for the upcoming year.

SEC 6-K•4mo ago

DAC: 6-K · periodic report

Danaos Corporation reported net income of $140.4 million for the three months ended March 31, 2026, an increase of 22% compared to $115.1 million in the prior-year period. The results were driven by a $23.5 million gain on investments, primarily from its stake in Star Bulk Carriers, and higher dividend income. The company's liquidity position remains strong with $876.2 million in cash and cash equivalents as of March 31, 2026. Danaos also repaid $262.8 million of its 8.5% senior notes and prepaid $213.8 million under a syndicated credit facility during the quarter. Danaos declared a dividend of $0.90 per share for the first quarter of 2026 and continues to execute its share repurchase program. The company also expanded its fleet and investment activities, adding new vessels to its orderbook and making a strategic investment in the Alaska LNG project.

SEC 6-K•5mo ago