Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) to Issue Dividend Increase – $0.10 Per Share

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) announced a quarterly dividend on Monday, August 10th. Stockholders of record on Tuesday, September 1st will be given a dividend of 0.10 per share by the shipping company on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a 100.0% increase from Pangaea Logistics Solutions’s previous quarterly dividend of $0.05.

Pangaea Logistics Solutions has a dividend payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Pangaea Logistics Solutions to earn $0.42 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 47.6%.

Pangaea Logistics Solutions Trading Down 1.2%

Shares of PANL opened at $7.33 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. Pangaea Logistics Solutions has a 12-month low of $4.54 and a 12-month high of $9.39. The firm has a market capitalization of $479.49 million, a PE ratio of 13.33 and a beta of 0.79. The stock’s fifty day simple moving average is $7.25 and its 200-day simple moving average is $7.71.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings results on Monday, August 10th. The shipping company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The business had revenue of $187.12 million for the quarter, compared to analysts’ expectations of $192.76 million. Pangaea Logistics Solutions had a return on equity of 5.71% and a net margin of 5.10%. As a group, research analysts predict that Pangaea Logistics Solutions will post 0.71 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on PANL shares. Wall Street Zen upgraded shares of Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Weiss Ratings cut shares of Pangaea Logistics Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.

Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.