Danaos Corporation (NYSE:DAC) to Issue $0.90 Quarterly Dividend

Danaos Corporation (NYSE:DAC) announced a quarterly dividend on Monday, July 6th. Shareholders of record on Tuesday, July 21st will be paid a dividend of 0.90 per share by the shipping company on Thursday, July 30th. This represents a c) annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, July 21st.

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

Danaos Stock Up 2.6%

Shares of NYSE DAC traded up $3.22 during mid-day trading on Monday, hitting $125.54. 78,887 shares of the stock traded hands, compared to its average volume of 73,468. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 4.54 and a beta of 0.89. The stock has a fifty day moving average price of $127.70 and a 200-day moving average price of $114.19. Danaos has a 52 week low of $83.56 and a 52 week high of $135.21. The company has a debt-to-equity ratio of 0.26, a quick ratio of 8.40 and a current ratio of 8.66.

Danaos (NYSE:DAC) last announced its quarterly earnings data on Monday, May 11th. The shipping company reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $5.86 by $0.86. Danaos had a net margin of 49.85% and a return on equity of 13.18%. The business had revenue of $253.70 million for the quarter, compared to analysts’ expectations of $242.20 million.

Hedge Funds Weigh In On Danaos

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kestra Advisory Services LLC bought a new position in Danaos in the 4th quarter worth approximately $43,000. Ascentis Independent Advisors bought a new stake in shares of Danaos during the first quarter valued at approximately $56,000. Raymond James Financial Inc. bought a new stake in shares of Danaos during the second quarter valued at approximately $64,000. Tower Research Capital LLC TRC purchased a new position in shares of Danaos in the second quarter worth $67,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Danaos by 165.0% during the fourth quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock worth $73,000 after acquiring an additional 485 shares during the last quarter. 19.01% of the stock is currently owned by hedge funds and other institutional investors.

About Danaos

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.