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Frontline to sell two VLCCs for $270M, plans $179M special dividend to shareholders

Company Fundamentals
04 Aug 2026
GlobeNewsWire
View Source
Bullish
Frontline to sell two VLCCs for $270M, plans $179M special dividend to shareholders

Frontline plc announced it will sell two very large crude carriers (VLCCs) built in 2017 for a total of $270 million, with delivery expected in Q3 2026. After repaying vessel debt, the company expects net cash proceeds of about $179 million and a gain of approximately $110 million in Q3 2026. The Board plans to return the $179 million to shareholders via a one-time special dividend of $0.80 per share, aligning with its strategy to return cash to investors. The sale is subject to standard closing conditions and regulatory approvals.

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