Danaos Corporation (DAC) to Issue Quarterly Dividend of $0.90 on June 4th

Danaos Corporation (NYSE:DAC) declared a quarterly dividend on Monday, May 11th. Stockholders of record on Tuesday, May 26th will be given a dividend of 0.90 per share by the shipping company on Thursday, June 4th. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, May 26th.

Danaos has a payout ratio of 13.7% meaning its dividend is sufficiently covered by earnings.

Danaos Stock Performance

Danaos stock opened at $132.71 on Wednesday. The firm’s 50 day simple moving average is $116.83 and its 200-day simple moving average is $104.82. The company has a market cap of $2.42 billion, a P/E ratio of 4.68 and a beta of 0.90. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.28 and a quick ratio of 3.23. Danaos has a fifty-two week low of $82.75 and a fifty-two week high of $135.21.

Danaos (NYSE:DAC) last released its earnings results on Monday, May 11th. The shipping company reported $6.72 earnings per share for the quarter, topping the consensus estimate of $5.40 by $1.32. The business had revenue of $253.70 million for the quarter, compared to the consensus estimate of $236.50 million. Danaos had a net margin of 49.85% and a return on equity of 13.38%.

Analyst Ratings Changes

Several research analysts have recently weighed in on DAC shares. Freedom Capital raised shares of Danaos to a “hold” rating in a research report on Tuesday, March 10th. Weiss Ratings raised shares of Danaos from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, May 6th. Finally, Fearnley Fonds raised shares of Danaos from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Danaos presently has a consensus rating of “Buy” and a consensus target price of $105.00.

Danaos Company Profile

Danaos Corporation is a leading independent owner and manager of containerships, specializing in long-term charters of modern vessels to major liner companies worldwide. The company’s core services include vessel acquisition and sale, technical and crew management, and commercial chartering, all aimed at supporting global containerized trade. Danaos leverages its in-house expertise in operations, maintenance and regulatory compliance to ensure reliable and efficient fleet performance.

Founded in 1972 by Dr.