Seanergy Maritime Holdings Corp (NASDAQ:SHIP) Plans Dividend Increase – $0.40 Per Share

Seanergy Maritime Holdings Corp (NASDAQ:SHIP) declared a quarterly dividend on Wednesday, November 11th. Shareholders of record on Thursday, December 24th will be paid a dividend of $0.40 per share by the shipping company on Friday, January 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date of this dividend is Thursday, December 24th. This is a 14.3% increase from Seanergy Maritime’s previous quarterly dividend of $0.35.

Seanergy Maritime has a dividend payout ratio of 51.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Seanergy Maritime to earn $1.54 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 90.9%.

Seanergy Maritime Trading Up 1.0%

Shares of NASDAQ:SHIP opened at $15.58 on Friday. The firm has a market cap of $325.65 million, a price-to-earnings ratio of 5.45 and a beta of 1.15. The stock’s 50-day moving average price is $16.68 and its two-hundred day moving average price is $15.15. Seanergy Maritime has a 12-month low of $8.95 and a 12-month high of $19.22.

Seanergy Maritime (NASDAQ:SHIP) last issued its earnings results on Thursday, November 12th. The shipping company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.32. Seanergy Maritime had a return on equity of 21.87% and a net margin of 30.68%. The business had revenue of $57.45 million for the quarter, compared to analyst estimates of $54.58 million. As a group, research analysts forecast that Seanergy Maritime will post 3.33 earnings per share for the current fiscal year.

Insider Transactions at Seanergy Maritime

In other news, insider Stavros Gyftakis sold 2,835 shares of Seanergy Maritime stock in a transaction on Monday, October 5th. The stock was sold at an average price of $17.52, for a total transaction of $49,669.20. Following the transaction, the insider directly owned 230,340 shares in the company, valued at approximately $4,035,556.80. This trade represents a 1.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vision Financial Markets LLC purchased a new position in Seanergy Maritime during the 3rd quarter valued at about $28,000. State of Wyoming acquired a new position in shares of Seanergy Maritime in the 3rd quarter valued at about $84,000. HighTower Advisors LLC purchased a new stake in shares of Seanergy Maritime in the third quarter worth approximately $258,000. Cetera Investment Advisers lifted its position in shares of Seanergy Maritime by 4.2% in the first quarter. Cetera Investment Advisers now owns 20,504 shares of the shipping company’s stock worth $265,000 after purchasing an additional 829 shares in the last quarter. Finally, NewEdge Advisors LLC purchased a new stake in shares of Seanergy Maritime in the second quarter worth approximately $289,000. 29.36% of the stock is owned by hedge funds and other institutional investors.

About Seanergy Maritime

Seanergy Maritime Holdings Corp. is an international shipping company focused on the seaborne transportation of dry bulk commodities. It owns and operates a fleet of dry bulk vessels, primarily Capesize ships designed to carry large cargoes over long distances. The company’s vessels transport commodities such as iron ore, coal and grain for customers involved in global trade. Seanergy serves international shipping routes connecting commodity producers with markets around the world. Seanergy is incorporated in the Marshall Islands and has its executive offices in Athens, Greece.