Pangaea Logistics Solutions, Ltd. (PANL) to Issue Quarterly Dividend of $0.10 on March 14th

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) declared 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 increased its dividend payment by an average of 47.4% per year over the last three years. Pangaea Logistics Solutions has a payout ratio of 62.5% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Up 0.8 %

PANL stock opened at $5.29 on Wednesday. The firm has a 50-day moving average price of $5.31 and a 200-day moving average price of $5.98. Pangaea Logistics Solutions has a 12 month low of $4.82 and a 12 month high of $8.63. The company has a current ratio of 2.05, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $343.64 million, a P/E ratio of 11.26 and a beta of 0.84.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a research report 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.