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

Danaos Corporation (NYSE:DAC) declared a quarterly dividend on Monday, May 11th. Stockholders 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 of this dividend is Tuesday, May 26th.

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

Danaos Stock Down 0.7%

DAC stock opened at $133.67 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.23 and a current ratio of 3.28. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 4.99 and a beta of 0.90. Danaos has a fifty-two week low of $82.75 and a fifty-two week high of $135.21. The stock has a fifty day moving average of $116.54 and a 200-day moving average of $104.49.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Weiss Ratings upgraded Danaos from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, May 6th. Fearnley Fonds upgraded Danaos from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, Freedom Capital upgraded Danaos to a “hold” rating in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Danaos has a consensus rating of “Buy” and a consensus target price 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.