Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) Shareholders to Collect $0.10 Quarterly Dividend

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) announced a quarterly dividend on Thursday, November 5th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.10 per share by the shipping company on Tuesday, December 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Tuesday, December 1st.

Pangaea Logistics Solutions has a payout ratio of 50.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Pangaea Logistics Solutions to earn $0.25 per share next year, which means the company may not be able to cover its $0.40 annual dividend with an expected future payout ratio of 160.0%.

Pangaea Logistics Solutions Stock Down 1.9%

NASDAQ:PANL opened at $7.37 on Friday. The firm’s 50-day moving average price is $8.13 and its 200-day moving average price is $7.82. The company has a market capitalization of $482.51 million, a PE ratio of 10.73 and a beta of 0.91. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.38 and a quick ratio of 1.12. Pangaea Logistics Solutions has a 1-year low of $4.84 and a 1-year high of $9.39.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings results on Thursday, November 5th. The shipping company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.21. Pangaea Logistics Solutions had a net margin of 6.70% and a return on equity of 9.42%. The company had revenue of $219.06 million during the quarter, compared to analysts’ expectations of $204.90 million. On average, equities analysts predict that Pangaea Logistics Solutions will post 0.81 EPS for the current fiscal year.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) is a global provider of drybulk shipping and logistics services. The company transports industrial commodities for customers and manages the movement of cargo from origin to destination, combining marine transportation with related supply-chain services.

Pangaea owns and operates a fleet of drybulk vessels, including Handysize, Supramax and Panamax-class ships. Its cargoes include a range of drybulk commodities such as coal, grain, cement, salt, gypsum, dolomite and iron ore.