Danaos Corporation (NYSE:DAC) Plans Quarterly Dividend of $0.90

Danaos Corporation (NYSE:DAC) announced a quarterly dividend on Monday, February 9th. Investors of record on Monday, February 23rd will be given a dividend of 0.90 per share by the shipping company on Wednesday, March 4th. This represents a c) annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, February 23rd.

Danaos has a payout ratio of 13.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Danaos to earn $28.23 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 12.8%.

Danaos Stock Up 1.3%

Shares of Danaos stock opened at $103.42 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.62 and a quick ratio of 4.51. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 4.13 and a beta of 1.08. The firm’s 50-day moving average is $97.98 and its two-hundred day moving average is $94.13. Danaos has a 1 year low of $65.40 and a 1 year high of $104.83.

Danaos (NYSE:DAC) last announced its quarterly earnings results on Monday, February 9th. The shipping company reported $7.14 earnings per share for the quarter, topping the consensus estimate of $6.46 by $0.68. Danaos had a net margin of 45.16% and a return on equity of 13.49%. The firm had revenue of $266.27 million during the quarter, compared to analysts’ expectations of $253.00 million. As a group, research analysts expect that Danaos will post 29.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Danaos

Several institutional investors have recently bought and sold shares of the company. Ion Asset Management Ltd. increased its position in shares of Danaos by 15.5% during the second quarter. Ion Asset Management Ltd. now owns 654,308 shares of the shipping company’s stock worth $56,428,000 after purchasing an additional 87,614 shares in the last quarter. Millennium Management LLC grew its stake in Danaos by 161.8% during the 3rd quarter. Millennium Management LLC now owns 133,401 shares of the shipping company’s stock worth $11,981,000 after buying an additional 82,450 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Danaos by 183.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 46,215 shares of the shipping company’s stock valued at $3,606,000 after buying an additional 29,921 shares in the last quarter. Hi Line Capital Management LLC acquired a new position in Danaos during the 2nd quarter valued at about $2,481,000. Finally, Lazard Asset Management LLC purchased a new stake in Danaos in the third quarter valued at about $2,541,000. 19.01% of the stock is currently owned by institutional investors and hedge funds.

About Danaos

Danaos Corporation is a leading independent owner and manager of containerships, specializing in long-term charters of modern vessels to major liner companies worldwide. The company’s core services include vessel acquisition and sale, technical and crew management, and commercial chartering, all aimed at supporting global containerized trade. Danaos leverages its in-house expertise in operations, maintenance and regulatory compliance to ensure reliable and efficient fleet performance.

Founded in 1972 by Dr.