Euroseas Ltd. (ESEA) to Issue Quarterly Dividend of $0.65 on March 18th

Euroseas Ltd. (NASDAQ:ESEA) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Investors of record on Tuesday, March 11th will be given a dividend of 0.65 per share by the shipping company on Tuesday, March 18th. This represents a $2.60 dividend on an annualized basis and a yield of 7.34%. The ex-dividend date of this dividend is Tuesday, March 11th. This is a boost from Euroseas’s previous quarterly dividend of $0.60.

Euroseas has a payout ratio of 17.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Euroseas to earn $17.27 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 13.9%.

Euroseas Trading Up 5.4 %

ESEA opened at $35.40 on Friday. The firm has a market capitalization of $248.01 million, a price-to-earnings ratio of 2.18 and a beta of 0.85. The company’s 50 day simple moving average is $33.79 and its two-hundred day simple moving average is $39.50. Euroseas has a 1-year low of $30.21 and a 1-year high of $50.92. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.65 and a quick ratio of 1.59.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Euroseas from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

Hedge Funds Weigh In On Euroseas

An institutional investor recently raised its position in Euroseas stock. Bank of America Corp DE increased its position in shares of Euroseas Ltd. (NASDAQ:ESEA) by 1,611.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,865 shares of the shipping company’s stock after buying an additional 1,756 shares during the quarter. Bank of America Corp DE’s holdings in Euroseas were worth $68,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 6.27% of the company’s stock.

About Euroseas

Euroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables. As of March 31, 2024, it had a fleet of 20 containerships with a cargo carrying capacity of approximately 777,749 dwt.