Pangaea Logistics Solutions, Ltd. Declares Quarterly Dividend of $0.10 (NASDAQ:PANL)

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) declared a quarterly dividend on Tuesday, November 12th,Wall Street Journal reports. Investors of record on Friday, November 29th will be paid a dividend of 0.10 per share by the shipping company on Friday, December 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.99%. The ex-dividend date of this dividend is Friday, November 29th.

Pangaea Logistics Solutions has a dividend payout ratio of 52.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Pangaea Logistics Solutions to earn $0.68 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 58.8%.

Pangaea Logistics Solutions Trading Up 0.7 %

Shares of NASDAQ PANL opened at $5.72 on Thursday. The company has a quick ratio of 1.77, a current ratio of 2.05 and a debt-to-equity ratio of 0.72. Pangaea Logistics Solutions has a 12 month low of $5.63 and a 12 month high of $9.52. The company has a market cap of $268.27 million, a price-to-earnings ratio of 12.17 and a beta of 0.87. The business has a fifty day simple moving average of $6.50 and a 200-day simple moving average of $6.99.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a research note on Friday, November 15th.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.