Ardmore Shipping Corporation (NYSE:ASC) Shareholders to Collect $0.27 Quarterly Dividend

Ardmore Shipping Corporation (NYSE:ASC) announced a quarterly dividend on Tuesday, November 3rd. Shareholders of record on Friday, November 27th will be given a dividend of $0.27 per share by the shipping company on Tuesday, December 15th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Friday, November 27th. This is a 65.8% decrease from Ardmore Shipping’s previous quarterly dividend of $0.79.

Ardmore Shipping has raised its dividend payment by an average of 0.4% per year over the last three years. Ardmore Shipping has a dividend payout ratio of 250.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Ardmore Shipping Stock Performance

NYSE ASC traded down $0.35 during trading hours on Tuesday, hitting $19.20. 1,422,636 shares of the company’s stock traded hands, compared to its average volume of 680,411. Ardmore Shipping has a 52 week low of $10.31 and a 52 week high of $21.34. The firm has a market capitalization of $782.22 million, a P/E ratio of 7.42 and a beta of 0.11. The company has a current ratio of 5.45, a quick ratio of 4.84 and a debt-to-equity ratio of 0.05. The business’s fifty day moving average price is $18.82 and its two-hundred day moving average price is $16.58.

Ardmore Shipping (NYSE:ASC) last issued its quarterly earnings results on Wednesday, November 4th. The shipping company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Ardmore Shipping had a return on equity of 15.24% and a net margin of 29.67%. The business had revenue of $87.71 million during the quarter, compared to analysts’ expectations of $56.67 million.

About Ardmore Shipping

Ardmore Shipping Corporation (NYSE: ASC) is a maritime transportation company that owns and operates a fleet of product and chemical tankers. The company provides seaborne transportation services for refined petroleum products, such as gasoline, diesel and jet fuel, as well as certain chemicals and other liquid cargoes.

Ardmore’s vessels primarily serve international trade routes, transporting cargoes between major energy and industrial markets. Its operations include commercial management, chartering and technical management of its fleet, with an emphasis on safe, efficient and environmentally responsible maritime transportation.

Founded in 2010, Ardmore Shipping is headquartered in Hamilton, Bermuda.