Dorian LPG Ltd. Declares Special Dividend of $0.70 (NYSE:LPG)

Dorian LPG Ltd. (NYSE:LPG) announced a special dividend on Friday, January 30th. Stockholders of record on Monday, February 9th will be paid a dividend of 0.70 per share by the shipping company on Tuesday, February 24th. This represents a dividend yield of 950.0%. The ex-dividend date is Monday, February 9th.

Dorian LPG has a payout ratio of 36.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Dorian LPG to earn $2.39 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 41.8%.

Dorian LPG Trading Up 7.8%

Shares of NYSE LPG opened at $32.39 on Friday. The company has a quick ratio of 3.30, a current ratio of 2.41 and a debt-to-equity ratio of 0.38. Dorian LPG has a 12 month low of $16.66 and a 12 month high of $33.02. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 11.40 and a beta of 0.58. The business has a fifty day simple moving average of $26.56 and a 200-day simple moving average of $28.20.

Dorian LPG (NYSE:LPG) last issued its quarterly earnings results on Thursday, February 5th. The shipping company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.06). Dorian LPG had a return on equity of 11.82% and a net margin of 29.88%.The company had revenue of $118.23 million during the quarter, compared to analysts’ expectations of $115.15 million. During the same period in the prior year, the business posted $0.43 EPS. The company’s revenue for the quarter was up 48.7% compared to the same quarter last year. Sell-side analysts predict that Dorian LPG will post 2.6 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LPG shares. Weiss Ratings restated a “hold (c)” rating on shares of Dorian LPG in a report on Monday, December 29th. Wall Street Zen raised shares of Dorian LPG from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Dnb Carnegie upgraded Dorian LPG from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. Finally, Pareto Securities cut Dorian LPG from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Dorian LPG Company Profile

Dorian LPG Ltd., incorporated in Bermuda and headquartered in Greenwich, Connecticut, is a leading owner and operator of modern very large gas carriers (VLGCs). The company specializes in the maritime transportation of liquefied petroleum gas (LPG), primarily propane and butane, for energy producers, commodity traders and trading houses around the world.

Dorian LPG’s fleet comprises over 30 state-of-the-art VLGCs, each designed for fuel efficiency and environmental performance. These vessels operate under medium- and long-term time charter agreements, providing predictable employment and supporting a stable charter revenue profile through contracts with major international energy companies.

The company serves global energy markets by transporting LPG cargoes along major trade routes linking production centers in the Middle East, U.S.