IN BRIEF: Braemar Shipping expects to pay a higher annual dividend

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Braemar Shipping Services PLC - London-based shipbroker - Expects to report higher annual underlying operating profit and dividend. Estimates an underlying operating profit of £9.8 million for its financial year that ended February 28, up from £7.7 million the year before. Aims to pay total annual 7 pence dividend, up 40% from 5p a year ago. Expects underlying operating profit of £12 million for the current financial year ending February 28, 2023, higher than the £10 million market consensus. Published outlook comes after Braemar on Thursday announced a seven-year contract worth £9.9 million with the UK Ministry of Defence.

Braemar aims to release financial year 2022 results in the latter half of June.

Current stock price: 270.00 pence, up 1.9% on Friday

12-month change: up 21%

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