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

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) declared 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 dividend on an annualized basis and a dividend yield of 6.24%. The ex-dividend date is Friday, November 29th.

Pangaea Logistics Solutions has a dividend payout ratio of 42.1% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

NASDAQ PANL opened at $6.41 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.82. Pangaea Logistics Solutions has a 1 year low of $6.09 and a 1 year high of $9.52. The company has a market capitalization of $300.63 million, a PE ratio of 13.64 and a beta of 0.87. The company has a fifty day moving average of $6.57 and a two-hundred day moving average of $7.09.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings data on Tuesday, November 12th. The shipping company reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. Pangaea Logistics Solutions had a net margin of 4.14% and a return on equity of 7.88%. The company had revenue of $153.12 million during the quarter, compared to the consensus estimate of $138.65 million. As a group, analysts expect that Pangaea Logistics Solutions will post 0.76 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a research note on Friday.

About Pangaea Logistics Solutions

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.