Navios Maritime Partners LP (NYSE:NMM) to Issue Quarterly Dividend of $0.06

Navios Maritime Partners LP (NYSE:NMM) declared a quarterly dividend on Tuesday, October 27th. Stockholders of record on Monday, November 9th will be paid a dividend of $0.06 per share by the shipping company on Thursday, November 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, November 9th.

Navios Maritime Partners has decreased its dividend by an average of 0.2% annually over the last three years. Navios Maritime Partners has a dividend payout ratio of 1.8% indicating that its dividend is sufficiently covered by earnings.

Navios Maritime Partners Stock Performance

NYSE:NMM opened at $88.05 on Wednesday. The stock’s 50 day moving average price is $90.16 and its 200 day moving average price is $74.64. Navios Maritime Partners has a 52 week low of $45.66 and a 52 week high of $97.00.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings results on Thursday, August 27th. The shipping company reported $4.65 earnings per share for the quarter, beating analysts’ consensus estimates of $4.35 by $0.30. The company had revenue of $410.17 million during the quarter, compared to the consensus estimate of $360.83 million. Navios Maritime Partners’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same period last year, the company earned $2.15 earnings per share.

About Navios Maritime Partners

Navios Maritime Partners L.P. (NYSE:NMM) is a publicly traded maritime transportation company that owns and operates vessels serving international trade routes. Its fleet is focused primarily on dry bulk carriers and containerships, with additional exposure to tanker shipping through vessels that transport liquid cargoes.

The company’s vessels transport commodities and manufactured goods for customers worldwide. Dry bulk ships carry cargoes such as iron ore, grain and coal, while containerships transport consumer products, industrial goods and other containerized freight.