Pangaea Logistics Solutions Ltd. (PANL) to Issue Quarterly Dividend of $0.10 on December 15th

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) declared a quarterly dividend on Thursday, November 5th. Investors of record on Tuesday, December 1st will be given a dividend of $0.10 per share by the shipping company on Tuesday, December 15th. This represents a $0.40 annualized dividend and a yield of 5.3%. The ex-dividend date is Tuesday, December 1st.

Pangaea Logistics Solutions has a payout ratio of 50.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Pangaea Logistics Solutions to earn $0.25 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 160.0%.

Pangaea Logistics Solutions Trading Up 2.7%

Shares of NASDAQ:PANL opened at $7.57 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.38 and a quick ratio of 1.12. The stock’s fifty day moving average price is $8.12 and its 200-day moving average price is $7.82. Pangaea Logistics Solutions has a 1 year low of $5.19 and a 1 year high of $9.39. The company has a market cap of $495.61 million, a P/E ratio of 10.80 and a beta of 0.91.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its earnings results on Thursday, November 5th. The shipping company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.21. The company had revenue of $219.06 million for the quarter, compared to the consensus estimate of $204.90 million. Pangaea Logistics Solutions had a net margin of 6.70% and a return on equity of 9.42%. Sell-side analysts expect that Pangaea Logistics Solutions will post 0.81 earnings per share for the current year.

Pangaea Logistics Solutions News Roundup

Here are the key news stories impacting Pangaea Logistics Solutions this week:

• Positive Sentiment: Q3 adjusted earnings were $0.52 per share, beating the $0.31 consensus and rising from $0.17 a year earlier. Revenue of $219.06 million also exceeded analysts’ $204.90 million estimate. Zacks Q3 results
• Positive Sentiment: Coverage highlighted a 31% increase in rates, which may support earnings if stronger pricing persists. Q3 earnings and rates coverage
• Positive Sentiment: Pangaea declared a quarterly dividend of $0.10 per share, payable December 15 to shareholders of record December 1. That equates to $0.40 annually and a cited yield of 5.3%.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) is a global provider of drybulk shipping and logistics services. The company transports industrial commodities for customers and manages the movement of cargo from origin to destination, combining marine transportation with related supply-chain services.

Pangaea owns and operates a fleet of drybulk vessels, including Handysize, Supramax and Panamax-class ships. Its cargoes include a range of drybulk commodities such as coal, grain, cement, salt, gypsum, dolomite and iron ore.