Star Bulk Carriers Corp. (SBLK) to Issue Quarterly Dividend of $0.90 on September 3rd

Star Bulk Carriers Corp. (NASDAQ:SBLK) announced a quarterly dividend on Wednesday, August 5th. Investors of record on Friday, August 21st will be paid a dividend of 0.90 per share by the shipping company on Thursday, September 3rd. This represents a c) annualized dividend and a dividend yield of 12.6%. The ex-dividend date is Friday, August 21st. This is a 80.0% increase from Star Bulk Carriers’s previous quarterly dividend of $0.50.

Star Bulk Carriers has raised its dividend payment by an average of 0.4%annually over the last three years. Star Bulk Carriers has a dividend payout ratio of 69.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Star Bulk Carriers to earn $3.15 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 63.5%.

Star Bulk Carriers Trading Up 2.3%

Star Bulk Carriers stock opened at $28.59 on Friday. The company has a 50 day moving average price of $26.69 and a 200 day moving average price of $25.11. Star Bulk Carriers has a 52 week low of $16.72 and a 52 week high of $29.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 1.73. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 11.21 and a beta of 0.72.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SBLK shares. Zacks Research lowered Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Star Bulk Carriers in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $32.00 price target on shares of Star Bulk Carriers in a research report on Friday, May 22nd. Jefferies Financial Group raised their price objective on Star Bulk Carriers from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen raised Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 18th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Star Bulk Carriers Company Profile

Star Bulk Carriers Corp is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.

The company’s vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.