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

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) declared a quarterly dividend on Tuesday, November 12th,Wall Street Journal reports. Stockholders of record on Friday, November 29th will be paid a dividend of 0.10 per share by the shipping company on Friday, December 13th. This represents a $0.40 annualized dividend and a dividend yield of 6.99%. The ex-dividend date of this dividend is Friday, November 29th.

Pangaea Logistics Solutions has a dividend payout ratio of 52.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Pangaea Logistics Solutions to earn $0.68 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 58.8%.

Pangaea Logistics Solutions Stock Up 0.7 %

PANL opened at $5.72 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.77. Pangaea Logistics Solutions has a 12 month low of $5.63 and a 12 month high of $9.52. The stock’s 50 day moving average price is $6.50 and its 200 day moving average price is $6.99. The stock has a market cap of $268.27 million, a P/E ratio of 12.17 and a beta of 0.87.

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 note on Friday, November 15th.

About Pangaea Logistics Solutions

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.