United Maritime Corporation (NASDAQ:USEA) Plans $0.10 Quarterly Dividend

United Maritime Corporation (NASDAQ:USEA) announced a quarterly dividend on Tuesday, July 28th. Stockholders of record on Friday, September 25th will be paid a dividend of 0.10 per share on Friday, October 9th. This represents a c) dividend on an annualized basis and a dividend yield of 12.9%. The ex-dividend date is Friday, September 25th.

United Maritime has a payout ratio of -49.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

United Maritime Price Performance

NASDAQ USEA opened at $3.09 on Wednesday. United Maritime has a 12 month low of $1.42 and a 12 month high of $3.20. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.96 and a quick ratio of 0.94. The company’s 50 day simple moving average is $2.77 and its 200 day simple moving average is $2.48. The firm has a market capitalization of $29.48 million, a PE ratio of -15.45 and a beta of 0.81.

United Maritime (NASDAQ:USEA) last released its earnings results on Thursday, July 30th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.12. United Maritime had a positive return on equity of 2.31% and a negative net margin of 5.07%.The firm had revenue of $9.99 million for the quarter, compared to analyst estimates of $9.80 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of United Maritime in a report on Monday, August 3rd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, United Maritime presently has an average rating of “Sell”.

About United Maritime

United Maritime Corporation (NASDAQ: USEA) is a global shipping company that owns and operates oceangoing vessels engaged in the transportation of commodities and other cargoes. Its fleet activities have primarily focused on dry bulk carriers and tankers, which serve international trade routes.

The company’s dry bulk vessels transport commodities such as grains, coal, and other bulk materials, while its tanker operations are designed to carry liquid cargoes. United Maritime employs a combination of charter arrangements, including time charters and voyage-based employment, to commercialize its vessels and serve customers in international markets.

United Maritime is based in Greece and has historically been associated with the Greek shipping industry.