Pangaea Logistics Solutions, Ltd. (PANL) To Go Ex-Dividend on November 29th

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) announced a quarterly dividend on Tuesday, November 12th,Wall Street Journal reports. Stockholders of record on Friday, November 29th will be paid a dividend of 0.10 per share by the shipping company on Friday, December 13th. This represents a $0.40 annualized dividend and a dividend yield of 7.04%. The ex-dividend date is Friday, November 29th.

Pangaea Logistics Solutions has a payout ratio of 52.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Pangaea Logistics Solutions to earn $0.68 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 58.8%.

Pangaea Logistics Solutions Price Performance

Shares of NASDAQ PANL opened at $5.68 on Wednesday. Pangaea Logistics Solutions has a fifty-two week low of $5.66 and a fifty-two week high of $9.52. The firm has a market capitalization of $266.39 million, a PE ratio of 12.09 and a beta of 0.87. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.05. The stock’s 50-day simple moving average is $6.52 and its 200-day simple moving average is $7.00.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a research note on Friday, November 15th.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.