NVGS News & Events

Navigator Holdings announced that, its subsidiaries, Navigator Parsec and Navigator Pleione, entered into a senior secured pre- and post-delivery term loan with ABN AMRO Bank N.V., Credit Agricole Corporate & Investment Bank and Nordea Bank Abp, filial i Norge, pursuant to which the Lenders have agreed to make available to the Borrowers up to $133,770,000, subject to the terms and conditions set out in the Facility Agreement. The loan will be used to finance up to 65% of the Borrowers' payments of the pre-delivery and delivery instalments to Jiangnan Shipyard and China Shipbuilding Trading Co., Ltd. under the shipbuilding contracts entered into in November 2024, in connection with the construction of two 48,500 cubic metre capacity liquefied ethylene gas carriers, as previously announced on November 20, 2024. The remaining portion of the pre-delivery and delivery instalments for the Newbuild Vessels will be funded from the Company's available cash resources. The Newbuild Vessels are scheduled to be delivered to the Borrowers in November 2027 and January 2028, respectively. The Facility Agreement has a post-delivery tenor of five years, is secured by, among other things, mortgages over the Newbuild Vessels, and amounts outstanding will bear interest on a quarterly basis at SOFR plus 1.50%. Obligations of the Borrowers under the Facility Agreement are guaranteed by the Company and Navigator Gas L.L.C. and the Facility Agreement also contains certain conditions, covenants and events of default.

The board of directors of Navigator Holdings approved a revision to the company's existing capital return policy first announced in May 2023. Commencing with the dividend relating to the third quarter of 2025, the company intends, subject to operating needs and other circumstances, to pay an increased quarterly cash dividend of 7c per share and return additional capital in the form of further cash dividends and/or share repurchases, such that the revised fixed element and, if any, the variable component, together equal 30% of net income for the applicable quarter, increased from 25% of net income in the existing policy. Declarations of any dividends in the future, and the amount of any such dividends under the policy, are subject to approval by the company's board. Pursuant to the company's revised capital return policy, the board declared a cash dividend of 7c per share of the company's common stock for the quarter ended September 30, payable on December 16 to all shareholders of record as of the close of business U.S. Eastern Time on November 25. Also as part of the policy for the quarter ended September 30, the company expects to repurchase approximately $5.4M of its common stock between November 7 and December 31, subject to operating needs, market conditions, legal requirements, stock price and other circumstances, such that the dividend and share repurchases together equal 30% of net income for the quarter ended September 30.

Reports Q3 revenue $141.82M, consensus $134.04M. The company said, "The average daily time charter equivalent rate across the fleet was $30,966 for the three months ended September 30, 2025, compared to $29,079 for the three months ended September 30, 2024, and $28,216 for the three months ended June 30, 2025."