Commenting on the decision, Niels G. Stolt-Nielsen, Chief Executive Officer, said, “Our earlier decision to recommend a final dividend for 2019, as announced on February 24, 2020, underscored the fundamentally solid position of the Company, which at the end of the first quarter of 2020 had over $500 million in available liquidity, and an increasingly promising market outlook for chemical tankers. However, while the coronavirus pandemic has had a modest impact on our markets to date, we believe this precautionary measure to cancel the final dividend for 2019 is a financially prudent decision, given current external circumstances.”