Danaos Corporation (DAC) to Distribute Quarterly Dividend of $1.00 on October 22nd

Danaos Corporation (NYSE:DAC) announced a quarterly dividend on Thursday, October 1st. Stockholders of record on Tuesday, October 13th will be paid a dividend of $1.00 per share by the shipping company on Thursday, October 22nd. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, October 13th. This is a 11.1% increase from Danaos’s previous quarterly dividend of $0.90.

Danaos has a payout ratio of 15.2% meaning its dividend is sufficiently covered by earnings.

Danaos Trading Up 1.8%

Shares of Danaos stock opened at $164.73 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 9.15 and a current ratio of 9.30. The stock has a 50 day moving average price of $149.99 and a two-hundred day moving average price of $133.12. Danaos has a 52 week low of $83.56 and a 52 week high of $165.25. The stock has a market capitalization of $3.00 billion, a PE ratio of 5.57 and a beta of 0.87.

Danaos (NYSE:DAC) last released its quarterly earnings data on Monday, August 3rd. The shipping company reported $7.29 EPS for the quarter, beating analysts’ consensus estimates of $6.80 by $0.49. Danaos had a net margin of 51.26% and a return on equity of 13.20%. The company had revenue of $274.37 million during the quarter, compared to analyst estimates of $258.27 million.

Institutional Investors Weigh In On Danaos

Several large investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised its holdings in shares of Danaos by 117.1% during the first quarter. Renaissance Technologies LLC now owns 83,800 shares of the shipping company’s stock valued at $9,439,000 after acquiring an additional 45,200 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Danaos by 6.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 76,890 shares of the shipping company’s stock worth $8,661,000 after acquiring an additional 4,737 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Danaos by 99.1% during the first quarter. Sei Investments Co. now owns 44,248 shares of the shipping company’s stock valued at $4,984,000 after acquiring an additional 22,028 shares during the period. DGS Capital Management LLC increased its stake in shares of Danaos by 15.5% in the 1st quarter. DGS Capital Management LLC now owns 30,394 shares of the shipping company’s stock valued at $3,424,000 after acquiring an additional 4,084 shares during the last quarter. Finally, Midwest Professional Planners LTD. boosted its holdings in shares of Danaos by 225.1% in the second quarter. Midwest Professional Planners LTD. now owns 16,855 shares of the shipping company’s stock valued at $2,063,000 after buying an additional 11,670 shares during the period. Institutional investors and hedge funds own 19.01% of the company’s stock.

About Danaos

Danaos Corporation is a Greece-based international owner and operator of containerships. The company provides vessels for the transportation of containerized cargo and generally charters its ships to major liner companies, which use them to serve global trade routes.

Founded in 1972, Danaos has developed a fleet serving customers across major shipping markets and geographic regions. Its operations support the movement of manufactured goods, consumer products, industrial materials and other cargo transported in standardized shipping containers.

Danaos is headquartered in Piraeus, Greece, and its management is led by Dr.