The dry bulk deal fell through back around April 2005 and really started pushing the stock price down. There have been no follow up activities from TOPT regarding dry bulk or dry shipping since that time.
However since then TOPT has sold some tankers out right and sold many with a bareboat leaseback on them. By my count out of the current 24 tankers TOPT controls they currently only owns 4 Suezmax Tankers and 2 Handymax Tankers
The article that you are reading is from 2005 Many things have happened since then. Things are really different now and there is no dividend. Maybe there will be a special diviend in the next few months but not now.
and, by so noting, do you mean to say that the shift to dry bulk is a thing of the past, never happened, is inmaterial, or what?
I do know tankers were added in 2005. Is there a time to add and a time to divest tankers, or must a savvy shipping company only add to their # of ships as some shareholders seem to want? I know almost nothing about this business except that it is feast and famine cyclical...but here is what I saw re last year's activity:
During the year ended December 31, 2005, the Company acquired five double-hull Handymax and four double-hull Suezmax tankers, and sold one double-hull Handymax and one single-hull Handysize tanker.