Pangaea Logistics Solutions, Ltd. Announces Quarterly Dividend of $0.10 (NASDAQ:PANL)

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) announced a quarterly dividend on Thursday, February 13th,RTT News reports. Stockholders of record on Friday, February 28th will be given a dividend of 0.10 per share by the shipping company on Friday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 7.63%.

Pangaea Logistics Solutions has increased its dividend by an average of 47.4% per year over the last three years. Pangaea Logistics Solutions has a dividend payout ratio of 64.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Pangaea Logistics Solutions to earn $0.13 per share next year, which means the company may not be able to cover its $0.40 annual dividend with an expected future payout ratio of 307.7%.

Pangaea Logistics Solutions Price Performance

Shares of PANL stock opened at $5.24 on Friday. Pangaea Logistics Solutions has a 52-week low of $4.82 and a 52-week high of $8.63. The stock has a market cap of $340.39 million, a PE ratio of 11.15 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.05. The firm’s 50 day moving average price is $5.33 and its two-hundred day moving average price is $6.08.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a research note on Friday, November 15th.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.