Danaos Corporation (NYSE:DAC) Announces $0.90 Quarterly Dividend

Danaos Corporation (NYSE:DAC) announced a quarterly dividend on Monday, May 11th. Shareholders of record on Tuesday, May 26th will be given a dividend of 0.90 per share by the shipping company on Thursday, June 4th. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, May 26th.

Danaos has a payout ratio of 13.7% indicating that its dividend is sufficiently covered by earnings.

Danaos Stock Performance

NYSE:DAC opened at $133.67 on Tuesday. The business’s 50-day moving average price is $116.54 and its two-hundred day moving average price is $104.49. Danaos has a twelve month low of $82.75 and a twelve month high of $135.21. The stock has a market cap of $2.43 billion, a P/E ratio of 4.99 and a beta of 0.90. The company has a quick ratio of 3.23, a current ratio of 3.28 and a debt-to-equity ratio of 0.23.

Danaos (NYSE:DAC) last released its quarterly earnings results on Monday, May 11th. The shipping company reported $6.72 earnings per share for the quarter, beating the consensus estimate of $5.40 by $1.32. Danaos had a return on equity of 13.31% and a net margin of 47.45%.The firm had revenue of $253.70 million for the quarter, compared to analysts’ expectations of $236.50 million.

Wall Street Analyst Weigh In

Several analysts have weighed in on DAC shares. Freedom Capital raised Danaos to a “hold” rating in a report on Tuesday, March 10th. Fearnley Fonds raised Danaos from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, Weiss Ratings raised Danaos from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Danaos has a consensus rating of “Buy” and an average price target of $105.00.

Danaos Company Profile

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.