Star Bulk Carriers Corp. (NASDAQ:SBLK) Announces Dividend Increase – $0.37 Per Share

Star Bulk Carriers Corp. (NASDAQ:SBLK) announced a quarterly dividend on Wednesday, February 25th. Shareholders of record on Monday, March 9th will be paid a dividend of 0.37 per share by the shipping company on Thursday, March 19th. This represents a c) annualized dividend and a yield of 5.9%. The ex-dividend date is Monday, March 9th. This is a 236.4% increase from Star Bulk Carriers’s previous quarterly dividend of $0.11.

Star Bulk Carriers has increased its dividend by an average of 1.2%annually over the last three years. Star Bulk Carriers has a payout ratio of 15.3% indicating that its dividend is sufficiently covered by earnings. Equities research 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 $0.44 annual dividend with an expected future payout ratio of 16.7%.

Star Bulk Carriers Price Performance

Shares of SBLK stock traded up $0.18 during mid-day trading on Thursday, reaching $25.10. The company’s stock had a trading volume of 529,300 shares, compared to its average volume of 1,347,146. The firm’s 50-day moving average is $21.55 and its two-hundred day moving average is $19.78. The company has a market cap of $2.95 billion, a P/E ratio of 48.02 and a beta of 0.79. Star Bulk Carriers has a 1-year low of $12.06 and a 1-year high of $25.82. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.56 and a current ratio of 1.72.

Star Bulk Carriers Company Profile

Star Bulk Carriers Corp is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.

The company’s vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.