Shares of Seaspan Corp. fell in the extended session Tuesday after the Hong Kong-based container ship company sharply cut its quarterly dividend. Seaspan shares dropped 13% to $6.86 after hours. The company cut its quarterly dividend to 12.5 cents a share from a previous 37.5 cents a share. “We believe this decision is in the long-term interests of our shareholders and will allow us to capitalize on industry weakness while maintaining a strong balance sheet,” said Seaspan CEO Gerry Wang in a statement. Seaspan reported adjusted fourth-quarter earnings of 21 cents a share on revenue of $213.2 million, while analysts surveyed by FactSet had estimated 17 cents a share on revenue of $213.4 million.
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