Danaos Co. (NYSE:DAC) Plans $0.85 Quarterly Dividend

Danaos Co. (NYSE:DAC) announced a quarterly dividend on Monday, February 10th,Wall Street Journal reports. Investors of record on Monday, February 24th will be given a dividend of 0.85 per share by the shipping company on Wednesday, March 5th. This represents a $3.40 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Monday, February 24th.

Danaos has increased its dividend payment by an average of 29.4% annually over the last three years. Danaos has a dividend payout ratio of 12.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Danaos to earn $29.22 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 11.6%.

Danaos Trading Up 3.9 %

Shares of DAC stock traded up $3.18 on Tuesday, hitting $84.13. The company had a trading volume of 268,839 shares, compared to its average volume of 114,757. The firm has a market cap of $1.63 billion, a P/E ratio of 2.91 and a beta of 1.42. Danaos has a twelve month low of $69.33 and a twelve month high of $98.25. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.78 and a current ratio of 3.93. The stock’s 50-day moving average is $79.22 and its two-hundred day moving average is $81.47.

Danaos (NYSE:DAC) last announced its quarterly earnings data on Monday, February 10th. The shipping company reported $6.50 EPS for the quarter, missing the consensus estimate of $6.52 by ($0.02). Danaos had a return on equity of 16.68% and a net margin of 56.16%. On average, equities research analysts anticipate that Danaos will post 26.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on DAC shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $105.00 target price on shares of Danaos in a research report on Tuesday. StockNews.com downgraded Danaos from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th.

About Danaos

Danaos Corporation, together with its subsidiaries, provides container and drybulk vessels services in Australia, Asia, and Europe. The company offers seaborne transportation services by operating vessels in the containership and drybulk sectors of the shipping industry. As of April 03, 2024, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity.