Euroseas Ltd. (ESEA) to Issue Quarterly Dividend of $0.80 on June 16th

Euroseas Ltd. (NASDAQ:ESEA) declared a quarterly dividend on Thursday, May 21st. Shareholders of record on Tuesday, June 9th will be given a dividend of 0.80 per share by the shipping company on Tuesday, June 16th. This represents a c) annualized dividend and a yield of 4.9%. The ex-dividend date is Tuesday, June 9th. This is a 6.7% increase from Euroseas’s previous quarterly dividend of $0.75.

Euroseas has a payout ratio of 24.6% meaning its dividend is sufficiently covered by earnings.

Euroseas Price Performance

Shares of ESEA opened at $65.21 on Friday. The firm has a market capitalization of $460.12 million, a PE ratio of 3.44 and a beta of 0.54. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.89 and a quick ratio of 4.82. Euroseas has a 1-year low of $37.40 and a 1-year high of $78.76. The company’s fifty day moving average price is $68.57 and its 200-day moving average price is $61.76.

Euroseas (NASDAQ:ESEA) last announced its quarterly earnings data on Thursday, May 21st. The shipping company reported $4.70 earnings per share for the quarter, beating analysts’ consensus estimates of $4.26 by $0.44. The firm had revenue of $55.84 million for the quarter, compared to analyst estimates of $56.61 million. Euroseas had a net margin of 58.31% and a return on equity of 28.50%. On average, equities research analysts predict that Euroseas will post 17.34 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESEA. Bank of America Corp DE lifted its position in Euroseas by 1,611.0% during the fourth quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock valued at $68,000 after purchasing an additional 1,756 shares during the period. Geode Capital Management LLC acquired a new position in Euroseas during the second quarter valued at $226,000. Jump Financial LLC acquired a new position in Euroseas during the second quarter valued at $260,000. Raymond James Financial Inc. acquired a new position in Euroseas during the second quarter valued at $870,000. Finally, Jane Street Group LLC acquired a new position in Euroseas during the second quarter valued at $259,000. 6.27% of the stock is currently owned by institutional investors and hedge funds.

About Euroseas

Euroseas Ltd. (NASDAQ: ESEA) is an international shipping company specializing in seaborne transportation of containerized and drybulk cargoes. Incorporated in Bermuda with its principal operations and management office based in Athens, Greece, the company owns and charters a diversified fleet of containerships, drybulk carriers and multipurpose vessels. Euroseas provides tailored shipping solutions on time-charter and voyage-charter agreements, serving manufacturers, commodity traders and logistics providers across major trade routes.

Euroseas’s fleet comprises both owned and chartered tonnage, enabling the company to adjust capacity to market conditions and customer requirements.