Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) to Issue Quarterly Dividend of $0.10

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) declared a quarterly dividend on Tuesday, November 12th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.10 per share by the shipping company on Friday, December 13th. This represents a $0.40 annualized dividend and a yield of 7.04%. The ex-dividend date of this dividend is Friday, November 29th.

Pangaea Logistics Solutions has a payout ratio of 52.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Pangaea Logistics Solutions to earn $0.68 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 58.8%.

Pangaea Logistics Solutions Stock Down 1.9 %

Shares of Pangaea Logistics Solutions stock opened at $5.68 on Wednesday. The stock’s 50-day moving average is $6.53 and its 200 day moving average is $7.01. Pangaea Logistics Solutions has a one year low of $5.66 and a one year high of $9.52. The firm has a market cap of $266.39 million, a price-to-earnings ratio of 12.09 and a beta of 0.87. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.77.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a research report on Friday, November 15th.

Pangaea Logistics Solutions Company Profile

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.