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

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) announced a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Investors of record on Friday, November 29th will be paid 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 6.24%. The ex-dividend date of this dividend is Friday, November 29th.

Pangaea Logistics Solutions has a dividend payout ratio of 42.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Pangaea Logistics Solutions to earn $0.95 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 42.1%.

Pangaea Logistics Solutions Price Performance

Shares of NASDAQ PANL traded up $0.11 during trading on Thursday, hitting $6.41. The company had a trading volume of 167,825 shares, compared to its average volume of 211,603. The firm has a market capitalization of $300.63 million, a price-to-earnings ratio of 13.64 and a beta of 0.87. The stock has a fifty day simple moving average of $6.57 and a two-hundred day simple moving average of $7.09. The company has a quick ratio of 1.82, a current ratio of 2.16 and a debt-to-equity ratio of 0.57. Pangaea Logistics Solutions has a fifty-two week low of $6.09 and a fifty-two week high of $9.52.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings data on Tuesday, November 12th. The shipping company reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. The company had revenue of $153.12 million during the quarter, compared to analyst estimates of $138.65 million. Pangaea Logistics Solutions had a return on equity of 7.90% and a net margin of 4.14%. On average, research analysts expect that Pangaea Logistics Solutions will post 0.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th.

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.