Danaos Co. (NYSE:DAC – Get Free Report) declared a quarterly dividend on Monday, August 5th, NASDAQ reports. Shareholders of record on Tuesday, August 20th will be given a dividend of 0.80 per share by the shipping company on Thursday, August 29th. This represents a $3.20 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Tuesday, August 20th.
Danaos has a dividend payout ratio of 13.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Danaos to earn $29.00 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 11.0%.
Danaos Stock Performance
Shares of DAC opened at $82.58 on Monday. The firm has a market cap of $1.60 billion, a PE ratio of 2.80 and a beta of 1.51. The company’s 50 day simple moving average is $87.54 and its 200-day simple moving average is $80.75. The company has a current ratio of 3.89, a quick ratio of 3.75 and a debt-to-equity ratio of 0.14. Danaos has a 12-month low of $62.37 and a 12-month high of $98.25.
Analysts Set New Price Targets
Separately, Jefferies Financial Group boosted their price objective on shares of Danaos from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th.
Read Our Latest Stock Report on DAC
Danaos Company Profile
Danaos Corporation, together with its subsidiaries, provides container and drybulk vessels services in Australia, Asia, and Europe. The company offers seaborne transportation services by operating vessels in the containership and drybulk sectors of the shipping industry. As of April 03, 2024, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity.
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