Ardmore Shipping Corporation (ASC) to Issue Quarterly Dividend of $0.07 on September 12th

Ardmore Shipping Corporation (NYSE:ASC) announced a quarterly dividend on Wednesday, July 30th, investing.com reports. Shareholders of record on Friday, August 29th will be paid a dividend of 0.07 per share by the shipping company on Friday, September 12th. This represents a c) annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, August 29th. This is a 40.0% increase from Ardmore Shipping’s previous quarterly dividend of $0.05.

Ardmore Shipping has a dividend payout ratio of 15.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ardmore Shipping to earn $1.38 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 14.5%.

Ardmore Shipping Stock Down 0.3%

Shares of NYSE:ASC opened at $11.43 on Wednesday. The company has a quick ratio of 3.56, a current ratio of 3.88 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $10.42 and a two-hundred day moving average of $9.99. The stock has a market cap of $464.08 million, a P/E ratio of 11.09 and a beta of 0.05. Ardmore Shipping has a 52-week low of $8.32 and a 52-week high of $19.12.

Ardmore Shipping (NYSE:ASC) last released its quarterly earnings results on Wednesday, July 30th. The shipping company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. The business had revenue of $72.05 million during the quarter, compared to analysts’ expectations of $44.92 million. Ardmore Shipping had a return on equity of 8.46% and a net margin of 14.48%.The company’s revenue was down 40.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.14 EPS. On average, research analysts expect that Ardmore Shipping will post 1.06 earnings per share for the current year.

About Ardmore Shipping

Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. The company's fleet consists of 22 owned vessels including 21 Eco-design and 1 Eco-mod vessel, and four chartered-in vessels. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.