Himalaya Shipping Ltd. (NYSE:HSHP) Raises Dividend to $0.28 Per Share

Himalaya Shipping Ltd. (NYSE:HSHP) declared a dividend on Sunday, October 4th. Stockholders of record on Monday, October 19th will be given a dividend of $0.28 per share on Tuesday, October 27th. The ex-dividend date is Friday, October 16th. This is a 12.0% increase from Himalaya Shipping’s previous dividend of $0.25.

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

Himalaya Shipping Stock Performance

Shares of NYSE:HSHP opened at $17.89 on Wednesday. The company has a debt-to-equity ratio of 4.00, a current ratio of 1.19 and a quick ratio of 1.19. The business’s 50 day moving average price is $17.26 and its 200-day moving average price is $15.50. The firm has a market capitalization of $834.57 million, a PE ratio of 15.83 and a beta of 1.36. Himalaya Shipping has a 1 year low of $7.37 and a 1 year high of $19.55.

Himalaya Shipping (NYSE:HSHP) last issued its quarterly earnings results on Wednesday, July 1st. The company reported $0.52 EPS for the quarter. Himalaya Shipping had a return on equity of 32.83% and a net margin of 31.44%. The firm had revenue of $55.30 million during the quarter.

Wall Street Analyst Weigh In

HSHP has been the topic of a number of research reports. Clarkson Capital upgraded Himalaya Shipping from a “neutral” rating to a “buy” rating in a report on Thursday, August 20th. Weiss Ratings raised shares of Himalaya Shipping from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, September 21st. Two research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

About Himalaya Shipping

Himalaya Shipping Ltd. is a Bermuda-based dry bulk shipping company focused on owning and operating large-capacity Newcastlemax vessels. The company transports major dry bulk commodities, including iron ore and coal, for customers in the global commodities and steel industries.

Himalaya Shipping was established in 2021 and has developed a fleet of Newcastlemax vessels designed to serve long-haul dry bulk routes. Its ships are equipped with dual-fuel engines capable of using liquefied natural gas, supporting improved fuel efficiency and lower emissions compared with conventional vessel designs.

The company’s vessels operate internationally, serving key trade routes connecting major mining, energy and steel-producing regions.