Ardmore Shipping Corporation (NYSE:ASC) to Issue Quarterly Dividend of $0.09

Ardmore Shipping Corporation (NYSE:ASC) announced a quarterly dividend on Thursday, February 5th. Investors of record on Friday, February 27th will be given a dividend of 0.09 per share by the shipping company on Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, February 27th.

Ardmore Shipping has increased its dividend by an average of 0.4%per year over the last three years. Ardmore Shipping has a payout ratio of 28.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ardmore Shipping to earn $1.38 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 26.1%.

Ardmore Shipping Price Performance

Shares of NYSE:ASC traded down $0.01 on Wednesday, reaching $15.32. The company’s stock had a trading volume of 68,724 shares, compared to its average volume of 686,432. The company has a 50-day simple moving average of $12.19 and a 200 day simple moving average of $12.06. Ardmore Shipping has a 52-week low of $8.32 and a 52-week high of $15.37. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.98 and a current ratio of 4.33. The company has a market cap of $622.30 million, a P/E ratio of 17.24 and a beta of -0.09.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings results on Thursday, February 12th. The shipping company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $82.91 million during the quarter, compared to the consensus estimate of $51.00 million. Ardmore Shipping had a net margin of 13.22% and a return on equity of 7.02%. As a group, equities research analysts anticipate that Ardmore Shipping will post 1.06 EPS for the current fiscal year.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation is a Bermuda-based provider of seaborne transportation services for refined petroleum products. The company owns and operates a modern fleet of product tankers, including medium-range (MR), long-range 2 (LR2) and Aframax vessels. Ardmore Shipping focuses on the ocean carriage of clean and dirty petroleum products under time charters, bareboat charters and spot voyages, serving a diverse customer base that includes major oil companies and trading houses.

Since its founding in 2005, Ardmore Shipping has grown its fleet through newbuilding contracts, second-hand acquisitions and fleet renewals, aiming to maintain a high quality, fuel-efficient profile.