Okeanis Eco Tankers Corp. (ECO) plummeted 5.11% in pre-market trading on Thursday, despite the company declaring a quarterly dividend of $0.35 per share. The sharp sell-off came as the tanker operator reported lower revenues and profits for the fourth quarter of 2024, disappointing investors.

For Q4 2024, ECO reported revenues of $85.2 million, down from $91.7 million in the same period last year. Net profit also declined to $13.2 million from $21.3 million in Q4 2023, while earnings per share fell to $0.41 from $0.66 a year ago.

While the dividend payout may have provided some support, ECO's weaker Q4 2024 financial performance appears to have overshadowed the dividend announcement, triggering a sell-off in the stock. Investors seem disappointed by the year-over-year declines in revenues, profits and earnings, despite the company's efforts to return cash to shareholders.