Ardmore Shipping Corporation (ASC) to Distribute Quarterly Dividend of $0.79 on September 15th

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.

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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.

Ardmore Shipping (NYSE:ASC – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The shipping company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.07. The business had revenue of $116.21 million for the quarter, compared to analyst estimates of $86.30 million. Ardmore Shipping had a net margin of 29.67% and a return on equity of 15.24%.

About Ardmore Shipping

(Get Free Report)

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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