Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Plans $0.10 Quarterly Dividend

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) announced a quarterly dividend on Thursday, February 13th,RTT News reports. Investors 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 7.63%.

Pangaea Logistics Solutions has raised its dividend by an average of 47.4% annually over the last three years. Pangaea Logistics Solutions has a payout ratio of 64.5% indicating that its dividend is sufficiently covered by earnings. Research 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 Trading Up 2.1 %

PANL opened at $5.24 on Friday. The stock has a market capitalization of $340.39 million, a P/E ratio of 11.15 and a beta of 0.84. Pangaea Logistics Solutions has a 12 month low of $4.82 and a 12 month high of $8.63. The firm’s fifty day simple moving average is $5.33 and its 200 day simple moving average is $6.08. The company has a current ratio of 2.05, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72.

Analysts Set New Price Targets

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