Navios Maritime Partners LP (NYSE:NMM) to Issue $0.06 Quarterly Dividend

Navios Maritime Partners LP (NYSE:NMM) announced a quarterly dividend on Thursday, July 30th. Shareholders of record on Monday, August 10th will be paid a dividend of 0.06 per share by the shipping company on Thursday, August 13th. This represents a c) dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, August 10th.

Navios Maritime Partners has decreased its dividend by an average of 0.2%per year over the last three years. Navios Maritime Partners has a dividend payout ratio of 1.8% meaning its dividend is sufficiently covered by earnings.

Navios Maritime Partners Stock Up 1.6%

NMM stock opened at $79.22 on Friday. The stock’s 50 day moving average is $73.26 and its 200-day moving average is $68.69. Navios Maritime Partners has a twelve month low of $40.80 and a twelve month high of $80.97. The firm has a market capitalization of $2.27 billion, a PE ratio of 6.67 and a beta of 1.00. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.58. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The firm had revenue of $357.01 million during the quarter, compared to analyst estimates of $317.80 million. During the same quarter in the prior year, the business posted $1.58 EPS. The business’s revenue was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. (NYSE: NMM) is a dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.

Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.