Danaos Co. (DAC) To Go Ex-Dividend on February 24th

Danaos Co. (NYSE:DAC) announced a quarterly dividend on Monday, February 10th, Wall Street Journal reports. Stockholders of record on Monday, February 24th will be paid a dividend of 0.85 per share by the shipping company on Wednesday, March 5th. This represents a $3.40 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Monday, February 24th.

Danaos has increased its dividend by an average of 29.4% annually over the last three years. Danaos has a dividend payout ratio of 12.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Danaos to earn $28.23 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 12.0%.

Danaos Trading Down 1.1 %

NYSE DAC opened at $84.82 on Friday. The stock has a market capitalization of $1.65 billion, a P/E ratio of 3.27 and a beta of 1.42. Danaos has a 52-week low of $69.33 and a 52-week high of $98.25. The firm has a 50-day moving average price of $79.70 and a 200 day moving average price of $81.49. The company has a quick ratio of 3.78, a current ratio of 3.93 and a debt-to-equity ratio of 0.19.

Danaos (NYSE:DAC) last posted its quarterly earnings results on Monday, February 10th. The shipping company reported $6.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.52 by ($0.02). Danaos had a return on equity of 16.03% and a net margin of 49.81%. Equities research analysts expect that Danaos will post 29.21 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on DAC shares. StockNews.com lowered shares of Danaos from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Jefferies Financial Group restated a “buy” rating and set a $105.00 target price on shares of Danaos in a research report on Tuesday, February 11th.

Danaos Company Profile

Danaos Corporation, together with its subsidiaries, provides container and drybulk vessels services in Australia, Asia, and Europe. The company offers seaborne transportation services by operating vessels in the containership and drybulk sectors of the shipping industry. As of April 03, 2024, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity.