Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Get Free Report) announced a quarterly dividend on Thursday, February 13th,RTT News reports. Shareholders 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 yield of 7.55%. The ex-dividend date is Friday, February 28th.
Pangaea Logistics Solutions has increased its dividend by an average of 47.4% annually 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 Stock Performance
PANL traded up $0.10 on Tuesday, hitting $5.30. 170,667 shares of the company traded hands, compared to its average volume of 203,667. The company has a 50 day moving average of $5.31 and a 200-day moving average of $6.04. The company has a quick ratio of 1.77, a current ratio of 2.05 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $344.29 million, a PE ratio of 11.28 and a beta of 0.84. Pangaea Logistics Solutions has a 12-month low of $4.82 and a 12-month high of $8.63.
Wall Street Analysts Forecast Growth
Separately, StockNews.com cut Pangaea Logistics Solutions from a "buy" rating to a "hold" rating in a research report on Friday, November 15th.
Check Out Our Latest Report on Pangaea Logistics Solutions
About Pangaea Logistics Solutions
(
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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.
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