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

Danaos Co. (NYSE:DAC - Get Free Report) declared a quarterly dividend on Monday, February 10th,Wall Street Journal reports. Investors 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 yield of 4.05%. The ex-dividend date is Monday, February 24th.

Danaos has increased its dividend payment by an average of 29.4% per year 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 Trading Up 1.8 %

Danaos stock traded up $1.45 during midday trading on Friday, reaching $83.97. 93,093 shares of the stock traded hands, compared to its average volume of 101,473. The company has a 50-day simple moving average of $79.38 and a two-hundred day simple moving average of $81.46. Danaos has a 12-month low of $69.33 and a 12-month high of $98.25. The firm has a market cap of $1.63 billion, a PE ratio of 2.90 and a beta of 1.42. The company has a current ratio of 3.93, a quick ratio of 3.78 and a debt-to-equity ratio of 0.19.

Danaos (NYSE:DAC - Get Free Report) last announced its earnings results on Monday, February 10th. The shipping company reported $6.50 EPS for the quarter, missing analysts' consensus estimates of $6.52 by ($0.02). Danaos had a net margin of 56.16% and a return on equity of 16.68%. Research analysts expect that Danaos will post 26.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Jefferies Financial Group reaffirmed a "buy" rating and issued a $105.00 price target on shares of Danaos in a research report on Tuesday. StockNews.com lowered Danaos from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th.

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.