Seanergy Maritime Holdings Corp (NASDAQ:SHIP) to Issue Quarterly Dividend of $0.35

Seanergy Maritime Holdings Corp (NASDAQ:SHIP) announced a quarterly dividend on Tuesday, July 28th. Shareholders of record on Friday, September 25th will be given a dividend of 0.35 per share by the shipping company on Friday, October 9th. This represents a c) dividend on an annualized basis and a yield of 7.9%. The ex-dividend date of this dividend is Friday, September 25th. This is a 75.0% increase from Seanergy Maritime’s previous quarterly dividend of $0.20.

Seanergy Maritime has a payout ratio of 51.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Seanergy Maritime to earn $1.57 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 89.2%.

Seanergy Maritime Stock Performance

NASDAQ SHIP opened at $17.83 on Wednesday. The firm has a market cap of $372.65 million, a price-to-earnings ratio of 6.23 and a beta of 0.89. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 0.94. The business has a 50-day moving average price of $17.18 and a 200-day moving average price of $15.43. Seanergy Maritime has a twelve month low of $7.66 and a twelve month high of $19.22.

Seanergy Maritime (NASDAQ:SHIP) last issued its earnings results on Thursday, July 30th. The shipping company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.27. Seanergy Maritime had a return on equity of 21.87% and a net margin of 30.68%.The company had revenue of $55.69 million for the quarter, compared to the consensus estimate of $53.90 million. As a group, equities research analysts predict that Seanergy Maritime will post 3.16 EPS for the current fiscal year.

About Seanergy Maritime

Seanergy Maritime Holdings Corp. is an international dry bulk shipping company listed on the Nasdaq Capital Market under the symbol SHIP. The company owns and operates oceangoing vessels that transport major dry bulk commodities for industrial and commercial customers worldwide.

Seanergy’s fleet is focused primarily on Capesize and Newcastlemax vessels, which are among the largest dry bulk ships and are commonly used to carry iron ore, coal, and grain. The company generates revenue by chartering its vessels to customers and shipping counterparties under various types of charter arrangements.

Founded in 2008, Seanergy is headquartered in Athens, Greece, and serves global trade routes connecting major commodity-exporting and importing regions.