Pangaea Logistics Solutions Ltd. (PANL) To Go Ex-Dividend on December 1st

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) declared a quarterly dividend on Thursday, November 6th. Stockholders of record on Monday, December 1st will be given a dividend of 0.05 per share by the shipping company on Monday, December 15th. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, December 1st.

Pangaea Logistics Solutions has raised its dividend payment by an average of 0.3%per year over the last three years. Pangaea Logistics Solutions has a dividend payout ratio of 25.0% meaning its dividend is sufficiently covered by earnings. Equities 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 18.1%

NASDAQ PANL opened at $5.82 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. Pangaea Logistics Solutions has a 1-year low of $3.93 and a 1-year high of $6.80. The firm’s fifty day simple moving average is $5.13 and its 200-day simple moving average is $4.88. The company has a market capitalization of $379.71 million, a PE ratio of 26.46 and a beta of 0.73.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings data on Thursday, November 6th. The shipping company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $168.67 million during the quarter, compared to analysts’ expectations of $159.32 million. As a group, sell-side analysts anticipate 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.