Star Bulk Carriers Corp. (NASDAQ:SBLK – Get Free Report) declared a quarterly dividend on Wednesday, November 20th,Wall Street Journal reports. Stockholders of record on Thursday, December 5th will be paid a dividend of 0.60 per share by the shipping company on Wednesday, December 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 12.65%. The ex-dividend date of this dividend is Thursday, December 5th.
Star Bulk Carriers has raised its dividend by an average of 215.5% per year over the last three years. Star Bulk Carriers has a dividend payout ratio of 73.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Star Bulk Carriers to earn $3.20 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 87.5%.
Star Bulk Carriers Stock Performance
SBLK stock traded down $1.06 on Wednesday, reaching $18.97. 3,665,351 shares of the company were exchanged, compared to its average volume of 1,593,766. The firm has a market capitalization of $1.59 billion, a PE ratio of 7.36 and a beta of 1.00. Star Bulk Carriers has a 12 month low of $18.92 and a 12 month high of $27.47. The stock’s fifty day moving average price is $20.83 and its 200 day moving average price is $22.69. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.51 and a quick ratio of 1.34.
Analyst Ratings Changes
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About Star Bulk Carriers
Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of bulk commodities, including iron ores, minerals and grains, bauxite, fertilizers, and steel products. As of December 31, 2023, the company owned a fleet of 116 dry bulk vessels with combined carrying capacity of 13.1 million deadweight tonnage (dwt) consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, and Supramax vessels with carrying capacities between 53,489 dwt and 209,537 dwt.
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