United Maritime Co. to Issue Quarterly Dividend of $0.08 (NASDAQ:USEA)

United Maritime Co. (NASDAQ:USEA) announced a quarterly dividend on Tuesday, August 6th, Zacks reports. Stockholders of record on Friday, September 27th will be given a dividend of 0.075 per share on Thursday, October 10th. This represents a $0.30 annualized dividend and a dividend yield of 12.45%. The ex-dividend date of this dividend is Friday, September 27th.

United Maritime has a payout ratio of 187.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

United Maritime Price Performance

Shares of United Maritime stock remained flat at $2.41 during trading on Wednesday. The stock had a trading volume of 1,793 shares, compared to its average volume of 43,777. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.36 and a quick ratio of 0.35. United Maritime has a 52-week low of $2.01 and a 52-week high of $3.00. The firm’s 50-day moving average price is $2.60 and its two-hundred day moving average price is $2.63. The firm has a market cap of $20.95 million, a P/E ratio of 7.81 and a beta of 0.54.

United Maritime (NASDAQ:USEA) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.10). United Maritime had a return on equity of 5.68% and a net margin of 8.02%.

Analyst Upgrades and Downgrades

Separately, Maxim Group upgraded United Maritime to a “strong-buy” rating in a research note on Thursday, June 27th.

About United Maritime

United Maritime Corporation, a shipping company, offers seaborne transportation services worldwide. It operates a fleet of eight dry bulk vessels comprising three Panamax, three Capesize, and two Kamsarmax vessels with an aggregate cargo-carrying capacity of approximately 922,054 dwt. The company was incorporated in 2022 and is based in Glyfada, Greece.