Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) Plans Dividend Increase – $0.25 Per Share

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) announced a quarterly dividend on Monday, August 5th, Zacks reports. Investors of record on Friday, September 27th will be given a dividend of 0.25 per share by the shipping company on Thursday, October 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.03%. The ex-dividend date of this dividend is Friday, September 27th. This is a positive change from Seanergy Maritime’s previous quarterly dividend of $0.03.

Seanergy Maritime has a dividend payout ratio of 40.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Seanergy Maritime to earn $2.26 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 44.2%.

Seanergy Maritime Trading Up 3.7 %

NASDAQ SHIP opened at $12.46 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.55 and a quick ratio of 0.52. The stock’s 50-day moving average is $10.44 and its 200-day moving average is $10.25. Seanergy Maritime has a one year low of $4.87 and a one year high of $13.19. The firm has a market cap of $257.92 million, a P/E ratio of 15.58 and a beta of 0.64.

Seanergy Maritime (NASDAQ:SHIP) last announced its quarterly earnings results on Tuesday, August 6th. The shipping company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.14. Seanergy Maritime had a net margin of 20.12% and a return on equity of 12.42%. The firm had revenue of $43.13 million for the quarter, compared to analyst estimates of $40.69 million. During the same quarter in the previous year, the firm posted $0.05 earnings per share. Sell-side analysts anticipate that Seanergy Maritime will post 2.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SHIP. Noble Financial raised Seanergy Maritime to a “strong-buy” rating in a research report on Tuesday, July 23rd. StockNews.com lowered shares of Seanergy Maritime from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 13th.

About Seanergy Maritime

Seanergy Maritime Holdings Corp., a shipping company, provides seaborne transportation of dry bulk commodities worldwide. It operates a fleet of 16 Capesize dry bulk vessels and one Newcastlemax dry bulk vessel with a cargo-carrying capacity of approximately 3,054,820 dwt. The company was formerly known as Seanergy Merger Corp.