Aircraft lessor Avation PLC (LON:AVAP) would consider an immediate dividend to shareholders from part of profits received if it were to conclude a sale of its ATR turboprop portfolio.
As revealed last month, the group has received an expression of interest for the 22 planes, which consist of relatively new aircraft and which generates high lease yields.
At an AGM today, Jeff Chatfield, executive chairman said: "For clarity and certainty, the board advises shareholders that no decision had been made to sell this highly valuable portfolio.
"The unexpired revenue for the 22 aircraft is in excess of $305 million as at 1 November 2016. The board is considering and responding to an offer."
He added that approval would be sought from shareholders for any eventual bid which the board deemed acceptable. Proposals are expected by the end of the year.
"Should a sale of the portfolio be concluded, the board would consider a dividend for part of the proceeds from the profit.....," he said.
"Avation would then seek to reinvest the remainder of the proceeds into replacement aircraft assets that would rebuild the fleet and add further diversification and new airline customers."
Chatfield outlined the progress made in building and diversifying its aircraft fleet, which will continue growth during the remainder of the current period with a further two new Airbus A321 jets to VietJet Air scheduled for delivery before December 31 this year.
Due to the acquisition of new aircraft and the sale of older ones, fleet metrics have continued to improve since the end of the financial year to June 30, he added.
That year saw reporting lease revenues increasing 25% to $71.2 million and total profit after tax increasing 37.6% to $18.3 million year-on-year.
The firm also noted that all of Avation's assets, liabilities and revenues are denominated in US dollars and it has decided to pay and future dividends in dollars.
But shareholders can choose to receive dividends in British pounds, or other currencies, by advising Computershare, the group's share registrar, it added.