Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Get Free Report) declared 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 dividend on an annualized basis and a yield of 7.69%. The ex-dividend date of this dividend is Friday, February 28th.
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 payout ratio of 64.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.8 %
Pangaea Logistics Solutions stock traded down $0.04 during trading hours on Monday, reaching $5.20. 162,648 shares of the company's stock traded hands, compared to its average volume of 184,932. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.05. Pangaea Logistics Solutions has a fifty-two week low of $4.82 and a fifty-two week high of $8.63. The firm has a market capitalization of $337.79 million, a price-to-earnings ratio of 11.06 and a beta of 0.84. The firm's 50 day moving average is $5.31 and its 200-day moving average is $6.04.
Analysts Set New Price Targets
Separately, StockNews.com downgraded shares of Pangaea Logistics Solutions from a "buy" rating to a "hold" rating in a research report on Friday, November 15th.
Read Our Latest Stock Analysis on PANL
About Pangaea Logistics Solutions
(
Get Free Report)
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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