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Frontline says best is yet to come as dividend hits $5 a share.
(From Lloyds List)
Byline: Tony Gray
FRONTLINE'S dividend largesse to shareholders in the past three years is now comfortably in excess of $1bn following a first quarter payment of $5 a share, or $365m in total.
And the John Fredriksen company insists there is still more to come.
Frontline's latest dividend accompanied a record quarterly result in the first three months of the year with net income rising to $214.4m from $179.6m in the like period of 2003.
On a per share basis, there was an increase to $2.91 per share from $2.35.
The $5 dividend, the highest so far, comprises $0.25 for a normal quarterly payment and an extra dividend of $4.75 per share.
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