United Maritime Corporation (NASDAQ:USEA) Increases Dividend to $0.20 Per Share

United Maritime Corporation (NASDAQ:USEA) declared a quarterly dividend on Wednesday, November 11th. Stockholders of record on Thursday, December 24th will be given a dividend of $0.20 per share on Friday, January 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 26.5%. The ex-dividend date of this dividend is Thursday, December 24th. This is a 100.0% increase from United Maritime’s previous quarterly dividend of $0.10.

United Maritime has a payout ratio of -49.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

United Maritime Stock Up 22.8%

Shares of NASDAQ:USEA opened at $3.02 on Friday. United Maritime has a 52-week low of $1.42 and a 52-week high of $3.20. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 0.96. The firm has a fifty day moving average of $2.70 and a 200 day moving average of $2.42. The firm has a market capitalization of $28.81 million, a PE ratio of -15.10 and a beta of 0.83.

United Maritime (NASDAQ:USEA) last posted its quarterly earnings results on Thursday, November 12th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.12. United Maritime had a negative net margin of 5.07% and a positive return on equity of 2.31%. The company had revenue of $11.97 million during the quarter, compared to analyst estimates of $10.90 million.

About United Maritime

United Maritime Corporation (NASDAQ: USEA) is a global shipping company engaged in the ownership and operation of oceangoing vessels. The company primarily provides seaborne transportation services for dry bulk commodities and liquid cargoes through its fleet of dry bulk carriers and tankers. United Maritime’s vessels transport commodities such as grains, coal, and other dry bulk materials, as well as petroleum products and related liquid cargoes. The company generates revenue by employing its vessels under voyage charters, time charters, and other commercial arrangements with customers in international shipping markets.