Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) Announces $0.05 Quarterly Dividend

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) declared a quarterly dividend on Thursday, November 6th. Shareholders of record on Monday, December 1st will be paid a dividend of 0.05 per share by the shipping company on Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Monday, December 1st.

Pangaea Logistics Solutions has raised its dividend by an average of 0.3%per year over the last three years. Pangaea Logistics Solutions has a dividend payout ratio of 25.0% indicating that 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 $0.20 annual dividend with an expected future payout ratio of 153.8%.

Pangaea Logistics Solutions Trading Up 12.0%

Shares of PANL stock traded up $0.59 during trading on Friday, hitting $5.52. 232,549 shares of the stock traded hands, compared to its average volume of 228,044. Pangaea Logistics Solutions has a 52-week low of $3.93 and a 52-week high of $6.80. The firm has a market capitalization of $360.14 million, a P/E ratio of 24.89 and a beta of 0.73. The firm’s fifty day moving average price is $5.12 and its 200-day moving average price is $4.87. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.46 and a quick ratio of 1.15.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its earnings results on Thursday, November 6th. The shipping company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.14. Pangaea Logistics Solutions had a return on equity of 3.38% and a net margin of 1.52%.The company had revenue of $168.67 million during the quarter, compared to analysts’ expectations of $159.32 million. As a group, research analysts forecast that Pangaea Logistics Solutions will post 0.43 earnings per share for the current fiscal year.

About Pangaea Logistics Solutions

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.