Pangaea Logistics Solutions, Ltd. (PANL) To Go Ex-Dividend on February 28th

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) announced a quarterly dividend on Thursday, February 13th,RTT News reports. Shareholders of record on Friday, February 28th will be given a dividend of 0.10 per share by the shipping company on Friday, March 14th. This represents a $0.40 annualized dividend and a yield of 7.69%. The ex-dividend date of this dividend is Friday, February 28th.

Pangaea Logistics Solutions has raised its dividend payment by an average of 47.4% per year over the last three years. Pangaea Logistics Solutions has a payout ratio of 64.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Pangaea Logistics Solutions to earn $0.13 per share next year, which means the company may not be able to cover its $0.40 annual dividend with an expected future payout ratio of 307.7%.

Pangaea Logistics Solutions Stock Performance

Pangaea Logistics Solutions stock opened at $5.20 on Friday. The stock’s 50 day simple moving average is $5.32 and its two-hundred day simple moving average is $6.07. 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 has a market cap of $337.79 million, a price-to-earnings ratio of 11.06 and a beta of 0.84. Pangaea Logistics Solutions has a fifty-two week low of $4.82 and a fifty-two week high of $8.63.

Wall Street Analyst Weigh In

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

About Pangaea Logistics Solutions

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.