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

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) announced a quarterly dividend on Thursday, February 13th, RTT News reports. Shareholders of record on Friday, February 28th will be given a dividend of 0.10 per share by the shipping company on Friday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 7.56%. The ex-dividend date of this dividend is Friday, February 28th.

Pangaea Logistics Solutions has raised its dividend by an average of 47.4% annually over the last three years. Pangaea Logistics Solutions has a payout ratio of 62.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Pangaea Logistics Solutions to earn $0.13 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 307.7%.

Pangaea Logistics Solutions Price Performance

PANL stock opened at $5.29 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.05. Pangaea Logistics Solutions has a 52-week low of $4.82 and a 52-week high of $8.63. The company has a market capitalization of $343.64 million, a P/E ratio of 11.26 and a beta of 0.84. The company has a fifty day moving average price of $5.31 and a 200-day moving average price of $5.98.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 15th.

About Pangaea Logistics Solutions

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.