Star Bulk Carriers Corp. (SBLK) To Go Ex-Dividend on December 5th

Star Bulk Carriers Corp. (NASDAQ:SBLK) declared a quarterly dividend on Tuesday, November 18th. Shareholders of record on Friday, December 5th will be given a dividend of 0.11 per share by the shipping company on Thursday, December 18th. This represents a c) annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, December 5th. This is a 120.0% increase from Star Bulk Carriers’s previous quarterly dividend of $0.05.

Star Bulk Carriers has increased its dividend payment by an average of 1.2%annually over the last three years. Star Bulk Carriers has a dividend payout ratio of 6.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Star Bulk Carriers to earn $2.64 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 7.6%.

Star Bulk Carriers Stock Down 1.3%

SBLK stock opened at $19.05 on Thursday. Star Bulk Carriers has a 52-week low of $12.06 and a 52-week high of $20.20. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.61 and a quick ratio of 1.42. The firm has a market capitalization of $2.24 billion, a P/E ratio of 18.14 and a beta of 0.92. The company’s 50 day simple moving average is $18.52 and its 200-day simple moving average is $17.97.

Institutional Investors Weigh In On Star Bulk Carriers

Institutional investors and hedge funds have recently bought and sold shares of the company. Triumph Capital Management acquired a new stake in Star Bulk Carriers in the third quarter valued at about $26,000. Rhumbline Advisers increased its stake in shares of Star Bulk Carriers by 141.7% in the third quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company’s stock valued at $32,000 after buying an additional 1,022 shares during the period. Sunbelt Securities Inc. bought a new stake in Star Bulk Carriers in the third quarter valued at approximately $33,000. Morse Asset Management Inc bought a new stake in shares of Star Bulk Carriers in the 3rd quarter valued at $37,000. Finally, Tower Research Capital LLC TRC increased its position in Star Bulk Carriers by 135.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,420 shares of the shipping company’s stock valued at $42,000 after buying an additional 1,391 shares in the last quarter. Institutional investors own 33.91% of the company’s stock.

About Star Bulk Carriers

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of bulk commodities, including iron ores, minerals and grains, bauxite, fertilizers, and steel products. As of December 31, 2023, the company owned a fleet of 116 dry bulk vessels with combined carrying capacity of 13.1 million deadweight tonnage (dwt) consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, and Supramax vessels with carrying capacities between 53,489 dwt and 209,537 dwt.