Seanergy Maritime Holdings Corp (NASDAQ:SHIP) Raises Dividend to $0.35 Per Share

Seanergy Maritime Holdings Corp (NASDAQ:SHIP) declared a quarterly dividend on Thursday, July 30th. Stockholders of record on Friday, September 25th will be paid a dividend of 0.35 per share by the shipping company on Friday, October 9th. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date is Friday, September 25th. This is a 75.0% increase from Seanergy Maritime’s previous quarterly dividend of $0.20.

Seanergy Maritime has a payout ratio of 29.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Seanergy Maritime to earn $0.74 per share next year, which means the company may not be able to cover its $0.80 annual dividend with an expected future payout ratio of 108.1%.

Seanergy Maritime Stock Performance

Shares of Seanergy Maritime stock traded up $1.73 on Thursday, reaching $17.82. 670,527 shares of the stock were exchanged, compared to its average volume of 241,896. The business has a 50 day moving average price of $15.02 and a two-hundred day moving average price of $13.72. The firm has a market capitalization of $372.44 million, a price-to-earnings ratio of 9.96 and a beta of 0.94. Seanergy Maritime has a twelve month low of $6.70 and a twelve month high of $17.93. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 1.11.

Seanergy Maritime (NASDAQ:SHIP) last announced its quarterly earnings data on Thursday, July 30th. The shipping company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.07 by $0.16. Seanergy Maritime had a net margin of 20.96% and a return on equity of 14.47%. Analysts anticipate that Seanergy Maritime will post 2.87 earnings per share for the current fiscal year.

Seanergy Maritime Company Profile

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) is a dry bulk shipping company that provides seaborne transportation services for major commodities, including iron ore, coal and grain. The company’s operations encompass both time charter and voyage charter contracts, enabling customers to secure vessel capacity on either a fixed-rate or spot basis. Its client base includes commodity producers, trading houses and industrial end users seeking global logistics solutions for bulk materials.

The company’s core assets consist of a fleet of modern dry bulk carriers, spanning Capesize, Panamax and Supramax classes.