Star Bulk Carriers Corp. (SBLK) to Issue Quarterly Dividend of $0.50 on June 22nd

Star Bulk Carriers Corp. (NASDAQ:SBLK) announced a quarterly dividend on Wednesday, May 20th. Investors of record on Friday, June 12th will be given a dividend of 0.50 per share by the shipping company on Monday, June 22nd. This represents a c) annualized dividend and a yield of 7.4%. The ex-dividend date is Friday, June 12th. This is a 35.1% increase from Star Bulk Carriers’s previous quarterly dividend of $0.37.

Star Bulk Carriers has increased its dividend payment by an average of 0.4%per year over the last three years. Star Bulk Carriers has a dividend payout ratio of 51.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Star Bulk Carriers to earn $3.05 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 48.5%.

Star Bulk Carriers Price Performance

Star Bulk Carriers stock opened at $26.92 on Friday. Star Bulk Carriers has a 12-month low of $15.78 and a 12-month high of $28.28. The stock has a market cap of $3.05 billion, a P/E ratio of 21.54 and a beta of 0.71. The company has a 50-day moving average price of $24.47 and a 200 day moving average price of $22.24. The company has a current ratio of 1.78, a quick ratio of 1.65 and a debt-to-equity ratio of 0.34.

Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings data on Wednesday, February 25th. The shipping company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.10. Star Bulk Carriers had a net margin of 13.01% and a return on equity of 6.82%. The firm had revenue of $230.79 million during the quarter, compared to analysts’ expectations of $250.51 million. Sell-side analysts anticipate that Star Bulk Carriers will post 3.85 earnings per share for the current year.

Star Bulk Carriers News Summary

Here are the key news stories impacting Star Bulk Carriers this week:

• Positive Sentiment: Star Bulk Carriers beat Q1 earnings expectations and posted a net profit of $58.5 million, signaling solid operating performance in the dry bulk shipping market. Article Title
• Positive Sentiment: The company declared a quarterly dividend of $0.50 per share, up from $0.37 previously, reinforcing its shareholder-return story and supporting the stock’s yield appeal. Article Title
• Positive Sentiment: Shares also benefited from the broader message that SBLK delivered an earnings and revenue surprise versus estimates, which can attract momentum buyers. Article Title
• Neutral Sentiment: A COO stock sale was disclosed, but it was made under a pre-arranged 10b5-1 trading plan, making it less likely to be viewed as a negative signal. Article Title
• Neutral Sentiment: Some investors may also be weighing the recent run-up in SBLK’s share price, which could temper enthusiasm if they view valuation as stretched after the rally. Article Title

Star Bulk Carriers Company Profile

Star Bulk Carriers Corp is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.

The company’s vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.