Seanergy Maritime Holdings Corp (NASDAQ:SHIP) Announces Dividend Increase – $0.13 Per Share

Seanergy Maritime Holdings Corp (NASDAQ:SHIP) announced a quarterly dividend on Tuesday, November 11th. Investors of record on Monday, December 29th will be given a dividend of 0.13 per share by the shipping company on Friday, January 9th. This represents a c) dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Monday, December 29th. This is a 160.0% increase from Seanergy Maritime’s previous quarterly dividend of $0.05.

Seanergy Maritime has a dividend payout ratio of 19.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Seanergy Maritime to earn $0.38 per share next year, which means the company may not be able to cover its $0.52 annual dividend with an expected future payout ratio of 136.8%.

Seanergy Maritime Stock Performance

Shares of NASDAQ:SHIP opened at $9.45 on Friday. The firm has a fifty day simple moving average of $9.34 and a two-hundred day simple moving average of $8.15. Seanergy Maritime has a 52 week low of $4.78 and a 52 week high of $11.15. The company has a quick ratio of 0.37, a current ratio of 0.39 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $197.51 million, a P/E ratio of 12.95 and a beta of 0.68.

Institutional Trading of Seanergy Maritime

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its position in Seanergy Maritime by 12.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 23,781 shares of the shipping company’s stock valued at $150,000 after purchasing an additional 2,713 shares in the last quarter. R Squared Ltd raised its holdings in shares of Seanergy Maritime by 28.0% in the third quarter. R Squared Ltd now owns 24,708 shares of the shipping company’s stock valued at $204,000 after acquiring an additional 5,405 shares in the last quarter. Allworth Financial LP purchased a new stake in Seanergy Maritime in the third quarter worth about $85,000. Campbell & CO Investment Adviser LLC bought a new position in Seanergy Maritime during the 2nd quarter worth about $90,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Seanergy Maritime by 56.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 44,467 shares of the shipping company’s stock worth $367,000 after purchasing an additional 15,991 shares during the period. Institutional investors own 29.36% of the company’s stock.

About Seanergy Maritime

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) is a dry bulk shipping company that provides seaborne transportation services for major commodities, including iron ore, coal and grain. The company’s operations encompass both time charter and voyage charter contracts, enabling customers to secure vessel capacity on either a fixed-rate or spot basis. Its client base includes commodity producers, trading houses and industrial end users seeking global logistics solutions for bulk materials.

The company’s core assets consist of a fleet of modern dry bulk carriers, spanning Capesize, Panamax and Supramax classes.