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

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) declared a quarterly dividend on Thursday, February 13th,RTT News reports. Investors of record on Friday, February 28th will be paid 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 7.69%. The ex-dividend date of this dividend is Friday, February 28th.

Pangaea Logistics Solutions has raised its dividend payment by an average of 47.4% annually over the last three years. Pangaea Logistics Solutions has a payout ratio of 64.5% meaning its dividend is sufficiently covered by earnings. Equities 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

Shares of NASDAQ PANL opened at $5.20 on Friday. Pangaea Logistics Solutions has a twelve month low of $4.82 and a twelve month high of $8.63. The firm has a market cap of $337.79 million, a P/E ratio of 11.06 and a beta of 0.84. The company has a 50 day moving average of $5.32 and a 200 day moving average of $6.07. The company has a quick ratio of 1.77, a current ratio of 2.05 and a debt-to-equity ratio of 0.72.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of 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.