Ardmore Shipping Corporation (NYSE:ASC – Get Free Report) announced a quarterly dividend on Wednesday, July 29th. Shareholders of record on Friday, August 28th will be given a dividend of 0.79 per share by the shipping company on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 17.6%. The ex-dividend date is Friday, August 28th. This is a 102.6% increase from Ardmore Shipping’s previous quarterly dividend of $0.39.
Ardmore Shipping has raised its dividend payment by an average of 0.4%annually over the last three years. Ardmore Shipping has a dividend payout ratio of 250.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Ardmore Shipping Stock Performance
Shares of ASC opened at $17.99 on Wednesday. The company has a 50-day moving average of $16.51 and a two-hundred day moving average of $16.25. The stock has a market cap of $732.61 million, a price-to-earnings ratio of 6.94 and a beta of 0.03. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.45 and a quick ratio of 4.84. Ardmore Shipping has a one year low of $10.31 and a one year high of $20.02.
About Ardmore Shipping
Ardmore Shipping Corporation is a Bermuda-based provider of seaborne transportation services for refined petroleum products. The company owns and operates a modern fleet of product tankers, including medium-range (MR), long-range 2 (LR2) and Aframax vessels. Ardmore Shipping focuses on the ocean carriage of clean and dirty petroleum products under time charters, bareboat charters and spot voyages, serving a diverse customer base that includes major oil companies and trading houses.
Since its founding in 2005, Ardmore Shipping has grown its fleet through newbuilding contracts, second-hand acquisitions and fleet renewals, aiming to maintain a high quality, fuel-efficient profile.
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