Ardmore Shipping Corporation (NYSE:ASC) Plans Quarterly Dividend of $0.79

Ardmore Shipping Corporation (NYSE:ASC) announced a quarterly dividend on Wednesday, July 29th. Investors of record on Friday, August 28th will be given a dividend of 0.79 per share by the shipping company on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 19.0%. The ex-dividend date is Friday, August 28th. This is a 102.6% increase from Ardmore Shipping’s previous quarterly dividend of $0.39.

Ardmore Shipping has increased its dividend payment by an average of 0.4%annually over the last three years. Ardmore Shipping has a dividend payout ratio of 123.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Ardmore Shipping Trading Up 1.6%

NYSE ASC traded up $0.26 on Wednesday, reaching $16.65. The stock had a trading volume of 901,309 shares, compared to its average volume of 688,978. The firm has a market capitalization of $678.03 million, a price-to-earnings ratio of 12.52 and a beta of 0.04. The company has a quick ratio of 4.43, a current ratio of 4.87 and a debt-to-equity ratio of 0.16. Ardmore Shipping has a 12-month low of $10.17 and a 12-month high of $20.02. The stock has a fifty day moving average price of $16.43 and a two-hundred day moving average price of $15.51.

Ardmore Shipping (NYSE:ASC) last released its quarterly earnings results on Wednesday, July 29th. The shipping company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.11 by $0.07. Ardmore Shipping had a return on equity of 9.63% and a net margin of 18.00%.The business had revenue of $116.21 million during the quarter, compared to analyst estimates of $86.30 million.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation is a Bermuda-based provider of seaborne transportation services for refined petroleum products. The company owns and operates a modern fleet of product tankers, including medium-range (MR), long-range 2 (LR2) and Aframax vessels. Ardmore Shipping focuses on the ocean carriage of clean and dirty petroleum products under time charters, bareboat charters and spot voyages, serving a diverse customer base that includes major oil companies and trading houses.

Since its founding in 2005, Ardmore Shipping has grown its fleet through newbuilding contracts, second-hand acquisitions and fleet renewals, aiming to maintain a high quality, fuel-efficient profile.