Seanergy Maritime Holdings Corp (SHIP) to Issue Quarterly Dividend of $0.20 on April 10th

Seanergy Maritime Holdings Corp (NASDAQ:SHIP) announced a quarterly dividend on Friday, February 13th. Stockholders of record on Friday, March 27th will be paid a dividend of 0.20 per share by the shipping company on Friday, April 10th. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Friday, March 27th. This is a 53.8% increase from Seanergy Maritime’s previous quarterly dividend of $0.13.

Seanergy Maritime has a dividend payout ratio of 29.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Seanergy Maritime to earn $0.38 per share next year, which means the company may not be able to cover its $0.80 annual dividend with an expected future payout ratio of 210.5%.

Seanergy Maritime Stock Performance

NASDAQ:SHIP opened at $13.35 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.39 and a quick ratio of 0.37. The firm has a market cap of $279.02 million, a price-to-earnings ratio of 13.35 and a beta of 0.83. The firm’s fifty day moving average price is $11.98 and its 200 day moving average price is $10.08. Seanergy Maritime has a 1-year low of $4.78 and a 1-year high of $14.93.

Institutional Investors Weigh In On Seanergy Maritime

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its stake in Seanergy Maritime by 12.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 23,781 shares of the shipping company’s stock valued at $150,000 after purchasing an additional 2,713 shares during the period. Renaissance Technologies LLC increased its stake in shares of Seanergy Maritime by 0.7% in the fourth quarter. Renaissance Technologies LLC now owns 563,500 shares of the shipping company’s stock valued at $5,201,000 after purchasing an additional 3,800 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Seanergy Maritime during the fourth quarter valued at approximately $41,000. R Squared Ltd raised its holdings in shares of Seanergy Maritime by 28.0% during the third quarter. R Squared Ltd now owns 24,708 shares of the shipping company’s stock valued at $204,000 after buying an additional 5,405 shares during the last quarter. Finally, Allworth Financial LP acquired a new position in shares of Seanergy Maritime during the third quarter worth approximately $85,000. 29.36% of the stock is currently owned by institutional investors.

About Seanergy Maritime

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) is a dry bulk shipping company that provides seaborne transportation services for major commodities, including iron ore, coal and grain. The company’s operations encompass both time charter and voyage charter contracts, enabling customers to secure vessel capacity on either a fixed-rate or spot basis. Its client base includes commodity producers, trading houses and industrial end users seeking global logistics solutions for bulk materials.

The company’s core assets consist of a fleet of modern dry bulk carriers, spanning Capesize, Panamax and Supramax classes.