SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 5, 2005
EAGLE BULK SHIPPING INC.
(Exact name of each Registrant as specified in its Charter)
Marshall Islands 000-51366 98-0453513
(State or other jurisdiction of (Commission File Number) (IRS employer
incorporation or organization) identification no.)
29 Broadway
New York, New York 10006
(Zip Code)
(Address of principal executive
offices)
(Registrant's telephone number, including area code): (212) 785-2500
Item 7.01. Regulation FD
On October 5, 2005, the Registrant issued a press release announcing the
declaration of a dividend. A copy of the press release is attached hereto as
Exhibit 99.1.
Exhibit 99.1
Eagle Bulk Shipping, Inc. Declares Dividend
New York, NY, October 5, 2005 -- Eagle Bulk Shipping Inc. (Nasdaq: EGLE) today
announced that its Board of Directors has voted to declare a cash dividend on
its common stock of $0.54 per share payable on or about October 31, 2005, to all
shareholders of record as at October 17, 2005. The Company had previously
communicated its intent to declare a dividend of $0.53 per share. The Company
also expects to declare a quarterly dividend of $0.57 per share in February
2006, as disclosed in its IPO prospectus.
About Eagle Bulk Shipping Inc.
------------------------------
Eagle Bulk Shipping Inc. is a Marshall Islands corporation headquartered in New
York City. We are the largest U.S. based owner of Handymax dry bulk vessels,
which are dry bulk vessels range in size from 35,000 to 60,000 deadweight tons,
or dwt, and transport a broad range of major and minor bulk cargoes, including
iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes.
Our strategy is to charter our modern fleet primarily pursuant to one- to
three-year time charters to allow us to take advantage of the stable cash flow
and high utilization rates that are associated with medium- to long-term time
charters.
Forward-Looking Statements
Matters discussed in this release may constitute forward-looking statements.
Forward-looking statements reflect our current views with respect to future
events and financial performance and may include statements concerning plans,
objectives, goals, strategies, future events or performance, and underlying
assumptions and other statements, which are other than statements of historical
facts.
The forward-looking statements in this release are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, management's examination of historical operating
trends, data contained in our records and other data available from third
parties. Although Eagle Bulk Shipping Inc. believes that these assumptions were
reasonable when made, because these assumptions are inherently subject to
significant uncertainties and contingencies which are difficult or impossible to
predict and are beyond our control, Eagle Bulk Shipping Inc. cannot assure you
that it will achieve or accomplish these expectations, beliefs or projections.
Important factors that, in our view, could cause actual results to differ
materially from those discussed in the forward-looking statements include the
strength of world economies and currencies, general market conditions, including
changes in charterhire rates and vessel values, changes in demand that may
affect attitudes of time charterers to scheduled and unscheduled drydocking,
changes in our vessel operating expenses, including dry-docking and insurance
costs, or actions taken by regulatory authorities, ability of our counterparties
to perform their obligations under sales agreements and charter contracts on a
timely basis, potential liability from future litigation, domestic and
international political conditions, potential disruption of shipping routes due
to accidents and political events or acts by terrorists. Risks and uncertainties
are further described in reports filed by Eagle Bulk Shipping Inc. with the US
Securities and Exchange Commission.
Visit our website at http://www.eagleships.com
Investor Contact Media Contact
Alan Ginsberg Jon Morgan
Chief Financial Officer Kekst and Company
212-785-2500 212-521-4800
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
October 6, 2005
EAGLE BULK SHIPPING INC.
By: /s/ Sophocles N. Zoullas
----------------------------
Sophocles N. Zoullas
Chief Executive Officer and President
25083.0001 #606770