Danaos Corporation (DAC) To Go Ex-Dividend on December 2nd

Danaos Corporation (NYSE:DAC) announced a quarterly dividend on Monday, November 17th. Shareholders of record on Tuesday, December 2nd will be paid a dividend of 0.90 per share by the shipping company on Thursday, December 11th. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, December 2nd. This is a 5.9% increase from Danaos’s previous quarterly dividend of $0.85.

Danaos has a payout ratio of 12.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Danaos to earn $28.23 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 12.0%.

Danaos Stock Performance

Danaos stock opened at $96.55 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 5.21 and a current ratio of 5.36. Danaos has a fifty-two week low of $65.40 and a fifty-two week high of $97.26. The stock has a fifty day moving average of $90.56 and a two-hundred day moving average of $89.53. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 3.98 and a beta of 1.49.

Danaos (NYSE:DAC) last announced its earnings results on Monday, November 17th. The shipping company reported $6.75 earnings per share for the quarter, missing the consensus estimate of $7.17 by ($0.42). The firm had revenue of $260.73 million during the quarter, compared to analyst estimates of $257.63 million. Danaos had a net margin of 44.62% and a return on equity of 13.88%. During the same period in the previous year, the firm posted $6.50 EPS. On average, analysts anticipate that Danaos will post 29.21 EPS for the current fiscal year.

Institutional Trading of Danaos

Several institutional investors have recently added to or reduced their stakes in DAC. Assetmark Inc. lifted its position in shares of Danaos by 15,500.0% in the 2nd quarter. Assetmark Inc. now owns 468 shares of the shipping company’s stock worth $40,000 after buying an additional 465 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Danaos during the second quarter worth about $64,000. Tower Research Capital LLC TRC bought a new position in Danaos in the second quarter worth about $67,000. TD Waterhouse Canada Inc. bought a new position in Danaos in the second quarter worth about $107,000. Finally, State of Wyoming boosted its stake in Danaos by 205.3% in the second quarter. State of Wyoming now owns 2,128 shares of the shipping company’s stock valued at $184,000 after acquiring an additional 1,431 shares during the period. Institutional investors own 19.01% of the company’s stock.

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.