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

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

Pangaea Logistics Solutions has a payout ratio of 52.6% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Down 1.9 %

Shares of Pangaea Logistics Solutions stock opened at $5.68 on Wednesday. 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 current ratio of 2.05, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72. The firm’s 50 day moving average is $6.53 and its 200 day moving average is $7.01. Pangaea Logistics Solutions has a 1 year low of $5.66 and a 1 year high of $9.52.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a 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.