SEACOR Marine set to be spun off next month

SEACOR Marine set to be spun off next month

The timing and details regarding the spin-off of American OSV operator SEACOR Marine from SEACOR Holdings have been revealed.

The SEACOR board of directors has declared a pro rata dividend of the shares of SEACOR Marine common stock owned by SEACOR that will result in the complete legal and structural separation of the two companies next month.

The plan is to issue new Seacor Marine Holdings shares as a dividend on June 1. Seacor Marine’s stock will trade under the ticker symbol SMHI.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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