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

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) declared a quarterly dividend on Tuesday, November 12th,Wall Street Journal reports. Investors of record on Friday, November 29th will be given a dividend of 0.10 per share by the shipping company on Friday, December 13th. This represents a $0.40 annualized dividend and a yield of 7.04%. The ex-dividend date is Friday, November 29th.

Pangaea Logistics Solutions has a dividend payout ratio of 52.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Pangaea Logistics Solutions to earn $0.68 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 58.8%.

Pangaea Logistics Solutions Stock Performance

NASDAQ PANL opened at $5.68 on Wednesday. The firm has a market cap of $266.39 million, a price-to-earnings ratio of 12.09 and a beta of 0.87. The company has a 50 day moving average of $6.52 and a 200-day moving average of $7.00. The company has a current ratio of 2.05, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72. Pangaea Logistics Solutions has a 1-year low of $5.66 and a 1-year high of $9.52.

Wall Street Analyst Weigh In

Separately, StockNews.com cut 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.