Ardmore Shipping Corporation (NYSE:ASC) Stock to Pay Quarterly Dividend of $0.27

Ardmore Shipping Corporation (NYSE:ASC) declared a quarterly dividend on Tuesday, November 3rd. Stockholders of record on Friday, November 27th will be paid a dividend of $0.27 per share by the shipping company on Tuesday, December 15th. This represents a $1.08 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Friday, November 27th. This is a 65.8% decrease from Ardmore Shipping’s previous quarterly dividend of $0.79.

Ardmore Shipping has raised its dividend by an average of 0.4% annually over the last three years. Ardmore Shipping has a payout ratio of 250.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Ardmore Shipping Trading Down 1.8%

Shares of ASC stock opened at $19.20 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.45 and a quick ratio of 4.84. The company has a market cap of $782.22 million, a price-to-earnings ratio of 8.32 and a beta of 0.15. Ardmore Shipping has a 1 year low of $10.31 and a 1 year high of $21.34. The firm has a fifty day moving average price of $18.84 and a 200-day moving average price of $16.61.

Ardmore Shipping (NYSE:ASC) last announced its earnings results on Tuesday, November 3rd. The shipping company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. The company had revenue of $87.71 million for the quarter, compared to analysts’ expectations of $56.67 million. Ardmore Shipping had a return on equity of 15.24% and a net margin of 29.67%.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation (NYSE: ASC) is a maritime transportation company that owns and operates a fleet of product and chemical tankers. The company provides seaborne transportation services for refined petroleum products, such as gasoline, diesel and jet fuel, as well as certain chemicals and other liquid cargoes.

Ardmore’s vessels primarily serve international trade routes, transporting cargoes between major energy and industrial markets. Its operations include commercial management, chartering and technical management of its fleet, with an emphasis on safe, efficient and environmentally responsible maritime transportation.

Founded in 2010, Ardmore Shipping is headquartered in Hamilton, Bermuda.