Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) to Issue $0.10 Quarterly Dividend

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) declared a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Investors of record on Friday, November 29th will be given a dividend of 0.10 per share by the shipping company on Friday, December 13th. This represents a $0.40 annualized dividend and a yield of 6.24%. The ex-dividend date is Friday, November 29th.

Pangaea Logistics Solutions has a dividend payout ratio of 42.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Pangaea Logistics Solutions to earn $0.95 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 42.1%.

Pangaea Logistics Solutions Trading Up 1.7 %

NASDAQ PANL opened at $6.41 on Friday. The stock has a market capitalization of $300.63 million, a P/E ratio of 13.64 and a beta of 0.87. Pangaea Logistics Solutions has a 52-week low of $6.09 and a 52-week high of $9.52. The firm has a 50-day moving average price of $6.57 and a 200 day moving average price of $7.09. The company has a quick ratio of 1.82, a current ratio of 2.05 and a debt-to-equity ratio of 0.72.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings results on Tuesday, November 12th. The shipping company reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. Pangaea Logistics Solutions had a net margin of 4.14% and a return on equity of 7.88%. The firm had revenue of $153.12 million during the quarter, compared to analysts’ expectations of $138.65 million. Equities research analysts expect that Pangaea Logistics Solutions will post 0.76 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a report on Friday.

Pangaea Logistics Solutions Company Profile

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.