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danans World - Class Shipping , Leading - Edge Expertise Danaos Corporation Reports Second Quarter and Half Year Results for the Period Ended June 30 , 2021 - Athens , Greece , August 2 , 2021 Danaos Corporation ( " Danaos " ) ( NYSE : DAC ) , one of the world's largest independent owners of containerships , today reported unaudited results for the period ended June 30 , 2021 . Highlights for the Second Quarter and Half Year Ended June 30 , 2021 : • • • • • Adjusted net income of $ 68.9 million , or $ 3.34 per share , for the three months ended June 30 , 2021 compared to $ 42.5 million , or $ 1.71 per share , for the three months ended June 30 , 2020 , an increase of 62.1 % . Adjusted net income¹ of $ 126.9 million , or $ 6.17 per share , for the six months ended June 30 , 2021 compared to $ 75.8 million , or $ 3.06 per share , for the six months ended June 30 , 2020 , an increase of 67.4 % . Operating revenues of $ 146.4 million for the three months ended June 30 , 2021 compared to $ 116.8 million for the three months ended June 30 , 2020 , an increase of 25.3 % . Operating revenues of $ 278.5 million for the six months ended June 30 , 2021 compared to $ 223.0 million for the six months ended June 30 , 2020 , an increase of 24.9 % . Adjusted EBITDA¹ of $ 103.7 million for the three months ended June 30 , 2021 compared to $ 80.1 million for the three months ended June 30 , 2020 , an increase of 29.5 % . Adjusted EBITDA¹ of $ 200.0 million for the six months ended June 30 , 2021 compared to $ 152.0 million for the six months ended June 30 , 2020 , an increase of 31.6 % . Total contracted operating revenues were $ 1.75 billion as of June 30 , 2021 , including the Gemini vessels that were acquired in July 2021 , with charters extending through 2028 and remaining average contracted charter duration of 3.4 years , weighted by aggregate contracted charter hire . Charter coverage of 92 % for the next 12 months based on current operating revenues and 90 % in terms of contracted operating days . • We have collected an aggregate amount of $ 69.5 million of mandatory repayment of ZIM and HMM notes plus accrued interest of nearly $ 10 million in the six months ended June 30 , 2021 . Additionally , we have sold 2 million ZIM ordinary shares for net proceeds of $ 76.4 million in the six months ended June 30 , 2021 . • Danaos has declared a dividend of $ 0.50 per share of common stock for the second quarter of 2021 , which is payable on August 30 , 2021 to stockholders of record as of August 16 , 2021 . Three and Six Months Ended June 30 , 2021 Financial Summary - Unaudited ( Expressed in thousands of United States dollars , except per share amounts ) Three months Three months ended June 30 , ended June 30 , Six months ended June 30 , Six months ended June 30 , 2021 2020 2021 2020 Operating revenues $ 146,434 $ 116,824 $ 278,552 $ 223,020 Net income $ 372,837 $ 38,496 $ 669,617 $ 67,585 Adjusted net income¹ $ 68,860 $ 42,494 $ 126,871 $ 75,775 Earnings per share , diluted $ 18.10 $ 1.55 $ 32.57 $ 2.73 Adjusted earnings per share , diluted¹ $ 3.34 $ 1.71 $ 6.17 $ 3.06 Diluted weighted average number of shares ( in thousands ) 20,599 24,789 20,557 24,789 Adjusted EBITDA¹ $ 103,736 $ 80,073 $ 200,018 $ 151,991 1 Adjusted net income , adjusted earnings per share and adjusted EBITDA are non - GAAP measures . Refer to the reconciliation of net income to adjusted net income and net income to adjusted EBITDA . 1 of 16