Himalaya Shipping Ltd. (NYSE:HSHP) Raises Dividend to $0.10 Per Share

Himalaya Shipping Ltd. (NYSE:HSHP) declared a dividend on Friday, January 1st. Shareholders of record on Monday, December 15th will be given a dividend of 0.10 per share on Tuesday, December 23rd. The ex-dividend date of this dividend is Friday, December 12th. This is a 42.9% increase from Himalaya Shipping’s previous dividend of $0.07.

Himalaya Shipping has a payout ratio of 3.7% indicating that its dividend is sufficiently covered by earnings.

Himalaya Shipping Stock Down 0.8%

Shares of NYSE HSHP opened at $9.41 on Wednesday. The company has a debt-to-equity ratio of 4.19, a current ratio of 1.01 and a quick ratio of 1.01. The company has a 50-day moving average price of $8.30 and a 200-day moving average price of $7.52. The stock has a market capitalization of $375.18 million, a P/E ratio of 85.55 and a beta of 1.87. Himalaya Shipping has a 1 year low of $4.29 and a 1 year high of $10.14.

Himalaya Shipping (NYSE:HSHP) last posted its earnings results on Thursday, November 6th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $37.90 million for the quarter, compared to analyst estimates of $41.45 million. Himalaya Shipping had a net margin of 4.39% and a return on equity of 3.30%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HSHP. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Himalaya Shipping during the 3rd quarter valued at $33,000. BNP Paribas Financial Markets boosted its holdings in shares of Himalaya Shipping by 80.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,656 shares of the company’s stock worth $47,000 after buying an additional 2,519 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Himalaya Shipping by 326.7% during the second quarter. Tower Research Capital LLC TRC now owns 9,024 shares of the company’s stock valued at $52,000 after buying an additional 6,909 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Himalaya Shipping during the second quarter worth about $69,000. Finally, Sherbrooke Park Advisers LLC purchased a new stake in Himalaya Shipping during the third quarter worth about $86,000. Institutional investors own 22.33% of the company’s stock.

Himalaya Shipping Company Profile

Himalaya Shipping Ltd. provides dry bulk shipping services worldwide. The company operates a fleet of vessels. It serves major commodity trading, commodity and energy transition, and multi-modal transport companies. Himalaya Shipping Ltd. was incorporated in 2021 and is based in Hamilton, Bermuda.