Star Bulk Carriers Corp. (NASDAQ:SBLK – Get Free Report) announced a quarterly dividend on Wednesday, May 20th. Stockholders of record on Friday, June 12th will be given a dividend of 0.50 per share by the shipping company on Monday, June 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date is Friday, June 12th. This is a 35.1% increase from Star Bulk Carriers’s previous quarterly dividend of $0.37.
Star Bulk Carriers has increased its dividend payment by an average of 0.4%per year over the last three years. Star Bulk Carriers has a dividend payout ratio of 69.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Star Bulk Carriers to earn $3.05 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 65.6%.
Star Bulk Carriers Stock Performance
Star Bulk Carriers stock opened at $26.75 on Wednesday. The company’s 50-day moving average price is $25.65 and its 200-day moving average price is $23.02. Star Bulk Carriers has a twelve month low of $16.21 and a twelve month high of $28.50. The company has a quick ratio of 1.55, a current ratio of 1.73 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.03 billion, a PE ratio of 21.40 and a beta of 0.72.
Star Bulk Carriers Company Profile
Star Bulk Carriers Corp is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.
The company’s vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.
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