Danaos Co. (NYSE:DAC) Plans $0.85 Quarterly Dividend

Danaos Co. (NYSE:DAC) declared a quarterly dividend on Tuesday, February 11th,Wall Street Journal reports. Stockholders of record on Monday, February 24th will be paid a dividend of 0.85 per share by the shipping company on Wednesday, March 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Monday, February 24th.

Danaos has raised its dividend payment by an average of 29.4% annually over the last three years. Danaos has a payout ratio of 12.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Danaos to earn $29.22 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 11.6%.

Danaos Price Performance

DAC traded up $3.18 during trading on Tuesday, reaching $84.13. The company’s stock had a trading volume of 268,839 shares, compared to its average volume of 114,757. Danaos has a 1 year low of $69.33 and a 1 year high of $98.25. The company has a quick ratio of 3.78, a current ratio of 3.93 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $79.22 and a two-hundred day simple moving average of $81.47. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 2.91 and a beta of 1.42.

Danaos (NYSE:DAC) last posted its earnings results on Monday, February 10th. The shipping company reported $6.50 earnings per share for the quarter, missing the consensus estimate of $6.52 by ($0.02). Danaos had a net margin of 56.16% and a return on equity of 16.68%. As a group, analysts anticipate that Danaos will post 26.95 EPS for the current year.

Wall Street Analyst Weigh In

DAC has been the topic of a number of recent research reports. StockNews.com lowered shares of Danaos from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Jefferies Financial Group reaffirmed a “buy” rating and set a $105.00 price objective on shares of Danaos in a research report on Tuesday.

Danaos Company Profile

Danaos Corporation, together with its subsidiaries, provides container and drybulk vessels services in Australia, Asia, and Europe. The company offers seaborne transportation services by operating vessels in the containership and drybulk sectors of the shipping industry. As of April 03, 2024, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity.