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

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) declared a quarterly dividend on Thursday, February 13th,RTT News reports. Shareholders 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 payment by an average of 47.4% annually over the last three years. Pangaea Logistics Solutions has a payout ratio of 64.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of PANL traded up $0.11 during mid-day trading on Thursday, hitting $5.24. 165,194 shares of the company were exchanged, compared to its average volume of 206,000. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.05. Pangaea Logistics Solutions has a 1-year low of $4.82 and a 1-year high of $8.63. The stock has a market cap of $340.39 million, a price-to-earnings ratio of 11.15 and a beta of 0.84. The company has a 50 day moving average of $5.33 and a 200-day moving average of $6.08.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut 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.