United Maritime Corporation (USEA) to Issue Quarterly Dividend of $0.10 on April 10th

United Maritime Corporation (NASDAQ:USEA) declared a quarterly dividend on Tuesday, March 10th. Stockholders of record on Friday, March 27th will be paid a dividend of 0.10 per share on Friday, April 10th. This represents a c) annualized dividend and a dividend yield of 19.7%. The ex-dividend date is Friday, March 27th. This is a 11.1% increase from United Maritime’s previous quarterly dividend of $0.09.

United Maritime has a payout ratio of -49.4% indicating that 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

USEA opened at $2.03 on Wednesday. The stock has a market cap of $18.41 million, a P/E ratio of -2.86 and a beta of 0.84. United Maritime has a 12 month low of $1.00 and a 12 month high of $2.28. The company has a quick ratio of 0.61, a current ratio of 0.62 and a debt-to-equity ratio of 1.15. The company has a fifty day simple moving average of $1.91 and a 200 day simple moving average of $1.78.

United Maritime (NASDAQ:USEA) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.09). United Maritime had a negative return on equity of 7.86% and a negative net margin of 16.50%.The business had revenue of $6.59 million for the quarter, compared to analyst estimates of $8.30 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of United Maritime from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, February 9th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

United Maritime Company Profile

United Maritime Corporation is a Marshall Islands–incorporated shipping company that provides seaborne transportation of crude oil and petroleum products. Traded on the NASDAQ under the symbol USEA, the company markets its tanker services to major oil producers, traders and refiners around the world. Its business model combines vessel ownership with time-charter contracts to deliver tailored shipping solutions across the energy supply chain.

The company’s fleet is composed primarily of medium? and large?sized oil tankers, including Aframax and Suezmax vessels.