United Maritime Co. Announces Quarterly Dividend of $0.08 (NASDAQ:USEA)

United Maritime Co. (NASDAQ:USEA) declared a quarterly dividend on Monday, August 5th, Zacks reports. Shareholders of record on Friday, September 27th will be given a dividend of 0.075 per share on Thursday, October 10th. This represents a $0.30 dividend on an annualized basis and a yield of 11.19%. The ex-dividend date is Friday, September 27th.

United Maritime has a payout ratio of 187.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

United Maritime Price Performance

USEA opened at $2.68 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.46 and a current ratio of 0.47. The stock has a market capitalization of $23.30 million, a PE ratio of 8.65 and a beta of 0.53. The stock’s 50 day moving average price is $2.54 and its 200-day moving average price is $2.59. United Maritime has a 52-week low of $2.01 and a 52-week high of $3.00.

United Maritime (NASDAQ:USEA) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.10). United Maritime had a net margin of 15.63% and a return on equity of 11.26%. The company had revenue of $12.44 million for the quarter.

Wall Street Analyst Weigh In

Separately, Maxim Group raised shares of United Maritime to a “strong-buy” rating in a research note on Thursday, June 27th.

United Maritime Company Profile

United Maritime Corporation, a shipping company, offers seaborne transportation services worldwide. It operates a fleet of eight dry bulk vessels comprising three Panamax, three Capesize, and two Kamsarmax vessels with an aggregate cargo-carrying capacity of approximately 922,054 dwt. The company was incorporated in 2022 and is based in Glyfada, Greece.