Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) Shareholders to Collect $0.10 Quarterly Dividend

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) announced a quarterly dividend on Thursday, November 5th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.10 per share by the shipping company on Tuesday, December 15th. This represents a $0.40 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Tuesday, December 1st.

Pangaea Logistics Solutions has a dividend payout ratio of 50.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Pangaea Logistics Solutions to earn $0.25 per share next year, which means the company may not be able to cover its $0.40 annual dividend with an expected future payout ratio of 160.0%.

Pangaea Logistics Solutions Trading Up 5.2%

Shares of NASDAQ PANL opened at $7.75 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.38 and a debt-to-equity ratio of 0.55. Pangaea Logistics Solutions has a 12 month low of $5.19 and a 12 month high of $9.39. The company has a market cap of $507.65 million, a price-to-earnings ratio of 10.37 and a beta of 0.91. The business has a fifty day simple moving average of $8.13 and a 200-day simple moving average of $7.82.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings results on Thursday, November 5th. The shipping company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.21. Pangaea Logistics Solutions had a return on equity of 9.42% and a net margin of 6.70%. The firm had revenue of $219.06 million for the quarter, compared to analysts’ expectations of $204.90 million. Sell-side analysts predict that Pangaea Logistics Solutions will post 0.81 EPS for the current year.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) is a global provider of drybulk shipping and logistics services. The company transports industrial commodities for customers and manages the movement of cargo from origin to destination, combining marine transportation with related supply-chain services.

Pangaea owns and operates a fleet of drybulk vessels, including Handysize, Supramax and Panamax-class ships. Its cargoes include a range of drybulk commodities such as coal, grain, cement, salt, gypsum, dolomite and iron ore.