Star Bulk Carriers Corp. (NASDAQ:SBLK) to Issue Quarterly Dividend of $0.75

Star Bulk Carriers Corp. (NASDAQ:SBLK) announced a quarterly dividend on Wednesday, May 22nd, Zacks reports. Investors of record on Thursday, June 6th will be paid a dividend of 0.75 per share by the shipping company on Thursday, June 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 11.43%. The ex-dividend date is Thursday, June 6th. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.45.

Star Bulk Carriers has increased its dividend by an average of 215.5% annually over the last three years.

Star Bulk Carriers Price Performance

Shares of SBLK opened at $26.25 on Friday. The stock has a market cap of $2.21 billion, a P/E ratio of 11.75 and a beta of 1.07. Star Bulk Carriers has a 1 year low of $16.57 and a 1 year high of $26.88. The stock’s 50-day moving average price is $24.45 and its two-hundred day moving average price is $22.44. The company has a current ratio of 1.26, a quick ratio of 1.09 and a debt-to-equity ratio of 0.59.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SBLK. Stifel Nicolaus boosted their price objective on shares of Star Bulk Carriers from $28.00 to $32.00 and gave the company a “buy” rating in a report on Friday. Jefferies Financial Group reissued a “buy” rating and issued a $30.00 price target on shares of Star Bulk Carriers in a report on Thursday.

Star Bulk Carriers Company Profile

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.