Euroseas Ltd. (NASDAQ:ESEA) Announces Dividend Increase – $0.75 Per Share

Euroseas Ltd. (NASDAQ:ESEA) announced a quarterly dividend on Wednesday, February 25th. Shareholders of record on Tuesday, March 10th will be paid a dividend of 0.75 per share by the shipping company on Tuesday, March 17th. This represents a c) dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Tuesday, March 10th. This is a 7.1% increase from Euroseas’s previous quarterly dividend of $0.70.

Euroseas has a payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Euroseas to earn $17.27 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 16.2%.

Euroseas Stock Down 0.4%

Shares of NASDAQ:ESEA traded down $0.27 during mid-day trading on Thursday, hitting $62.72. 4,245 shares of the company traded hands, compared to its average volume of 35,958. The stock has a 50-day moving average price of $55.71 and a two-hundred day moving average price of $58.04. Euroseas has a 12-month low of $26.30 and a 12-month high of $66.00. The stock has a market cap of $439.66 million, a P/E ratio of 3.59 and a beta of 0.81. The company has a current ratio of 3.59, a quick ratio of 3.53 and a debt-to-equity ratio of 0.47.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ESEA. Russell Investments Group Ltd. bought a new stake in Euroseas in the 4th quarter valued at about $34,000. Allworth Financial LP purchased a new position in shares of Euroseas in the second quarter worth about $45,000. Bank of America Corp DE raised its position in shares of Euroseas by 387.8% in the second quarter. Bank of America Corp DE now owns 1,117 shares of the shipping company’s stock valued at $50,000 after purchasing an additional 888 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Euroseas by 540.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,280 shares of the shipping company’s stock valued at $76,000 after buying an additional 1,080 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Euroseas during the 3rd quarter valued at approximately $89,000. Institutional investors own 6.27% of the company’s stock.

About Euroseas

Euroseas Ltd. (NASDAQ: ESEA) is an international shipping company specializing in seaborne transportation of containerized and drybulk cargoes. Incorporated in Bermuda with its principal operations and management office based in Athens, Greece, the company owns and charters a diversified fleet of containerships, drybulk carriers and multipurpose vessels. Euroseas provides tailored shipping solutions on time-charter and voyage-charter agreements, serving manufacturers, commodity traders and logistics providers across major trade routes.

Euroseas’s fleet comprises both owned and chartered tonnage, enabling the company to adjust capacity to market conditions and customer requirements.