Navios Maritime Partners LP (NYSE:NMM) Plans $0.06 Quarterly Dividend

Navios Maritime Partners LP (NYSE:NMM) announced a quarterly dividend on Thursday, July 30th. Stockholders of record on Monday, August 10th will be given a dividend of 0.06 per share by the shipping company on Thursday, August 13th. This represents a c) dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, August 10th.

Navios Maritime Partners has decreased its dividend by an average of 0.2%annually over the last three years. Navios Maritime Partners has a dividend payout ratio of 1.8% meaning its dividend is sufficiently covered by earnings.

Navios Maritime Partners Trading Up 1.6%

Shares of NMM opened at $79.22 on Friday. Navios Maritime Partners has a twelve month low of $40.80 and a twelve month high of $80.97. The firm has a market capitalization of $2.27 billion, a P/E ratio of 6.67 and a beta of 1.00. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57. The stock’s fifty day simple moving average is $73.26 and its 200 day simple moving average is $68.69.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, topping the consensus estimate of $2.77 by $0.58. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.The company had revenue of $357.01 million during the quarter, compared to analyst estimates of $317.80 million. During the same period in the prior year, the firm posted $1.58 earnings per share. The firm’s revenue was up 17.4% on a year-over-year basis.

About Navios Maritime Partners

Navios Maritime Partners L.P. (NYSE: NMM) is a dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.

Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.