Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) Announces Dividend Increase – $0.10 Per Share

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) declared a quarterly dividend on Monday, August 10th. Shareholders of record on Tuesday, September 1st will be paid a dividend of 0.10 per share by the shipping company on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 5.5%. The ex-dividend date is Tuesday, September 1st. This is a 100.0% increase from Pangaea Logistics Solutions’s previous quarterly dividend of $0.05.

Pangaea Logistics Solutions has a dividend payout ratio of 25.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Pangaea Logistics Solutions to earn $0.42 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 47.6%.

Pangaea Logistics Solutions Price Performance

Shares of PANL stock opened at $7.33 on Tuesday. The firm has a fifty day moving average of $7.25 and a two-hundred day moving average of $7.71. The firm has a market cap of $479.49 million, a P/E ratio of 13.33 and a beta of 0.79. Pangaea Logistics Solutions has a 1-year low of $4.54 and a 1-year high of $9.39. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.37.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its earnings results on Monday, August 10th. The shipping company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Pangaea Logistics Solutions had a net margin of 5.10% and a return on equity of 5.71%. The business had revenue of $187.12 million for the quarter, compared to analyst estimates of $192.76 million. As a group, research analysts anticipate that Pangaea Logistics Solutions will post 0.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Weiss Ratings lowered Pangaea Logistics Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Wall Street Zen raised Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.

Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.