Now turning to Slide 4, we would like to provide an update of our company's recent developments. For the quarter ended June 30, 2010, we declared our fifth consecutive dividend of $0.05 as of yesterday's market close. This reflects a 7% annualized yield.We are also pleased to announce that we have secured a $26 million loan for the Star Aurora at favorable financing cost and terms. I would like to remind our investors that we acquired the Star Aurora in February 2010 for approximately $42.5 million from a third party and chartered the vessel to Rio Tinto for about three years at a gross daily rate of $37,500.
Star Bulk Carriers Corp. Q2 2010 Earnings Call Transcript
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