Euroseas Ltd. (ESEA) to Issue Quarterly Dividend of $0.60 on June 19th

Euroseas Ltd. (NASDAQ:ESEA) announced a quarterly dividend on Thursday, May 23rd, Zacks reports. Investors of record on Wednesday, June 12th will be paid a dividend of 0.60 per share by the shipping company on Wednesday, June 19th. This represents a $2.40 dividend on an annualized basis and a yield of 6.36%. The ex-dividend date of this dividend is Wednesday, June 12th.

Euroseas has a payout ratio of 42.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Euroseas to earn $8.87 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 27.1%.

Euroseas Stock Performance

Shares of Euroseas stock opened at $37.73 on Friday. The business’s fifty day simple moving average is $35.82 and its 200 day simple moving average is $34.34. The firm has a market capitalization of $264.49 million, a P/E ratio of 2.48 and a beta of 0.88. Euroseas has a 12 month low of $19.71 and a 12 month high of $42.29. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 0.37.

Euroseas (NASDAQ:ESEA) last issued its quarterly earnings results on Wednesday, February 21st. The shipping company reported $3.61 EPS for the quarter, missing analysts’ consensus estimates of $3.85 by ($0.24). The business had revenue of $50.69 million for the quarter, compared to the consensus estimate of $50.97 million. Euroseas had a return on equity of 41.47% and a net margin of 54.50%. As a group, analysts anticipate that Euroseas will post 11.64 EPS for the current year.

About Euroseas

Euroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables. As of March 31, 2024, it had a fleet of 20 containerships with a cargo carrying capacity of approximately 777,749 dwt.