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

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) announced 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 7.63%.

Pangaea Logistics Solutions has raised its dividend payment by an average of 47.4% per year over the last three years. Pangaea Logistics Solutions has a payout ratio of 64.5% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 2.1 %

Shares of NASDAQ:PANL traded up $0.11 during midday trading on Thursday, reaching $5.24. 165,194 shares of the company’s stock were exchanged, compared to its average volume of 206,000. The firm’s 50 day simple moving average is $5.33 and its two-hundred day simple moving average is $6.08. Pangaea Logistics Solutions has a fifty-two week low of $4.82 and a fifty-two week high of $8.63. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.77. The stock has a market cap of $340.39 million, a price-to-earnings ratio of 11.15 and a beta of 0.84.

Analyst Upgrades and Downgrades

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