Danaos Corporation (NYSE:DAC) to Issue $0.90 Quarterly Dividend

Danaos Corporation (NYSE:DAC) announced a quarterly dividend on Monday, July 6th. Investors of record on Tuesday, July 21st will be given a dividend of 0.90 per share by the shipping company on Thursday, July 30th. This represents a c) dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, July 21st.

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

Danaos Price Performance

DAC stock traded up $3.22 during trading on Monday, hitting $125.54. 78,887 shares of the company’s stock traded hands, compared to its average volume of 73,468. Danaos has a 52 week low of $83.56 and a 52 week high of $135.21. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 4.54 and a beta of 0.89. The business has a fifty day simple moving average of $127.70 and a 200 day simple moving average of $114.19. The company has a debt-to-equity ratio of 0.26, a quick ratio of 8.40 and a current ratio of 8.66.

Danaos (NYSE:DAC) last posted its earnings results on Monday, May 11th. The shipping company reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $5.86 by $0.86. The firm had revenue of $253.70 million for the quarter, compared to the consensus estimate of $242.20 million. Danaos had a net margin of 49.85% and a return on equity of 13.18%.

Hedge Funds Weigh In On Danaos

A number of large investors have recently made changes to their positions in DAC. Kestra Advisory Services LLC purchased a new position in Danaos during the 4th quarter worth $43,000. Ascentis Independent Advisors bought a new position in shares of Danaos during the 1st quarter worth $56,000. Raymond James Financial Inc. bought a new position in shares of Danaos during the 2nd quarter worth $64,000. Tower Research Capital LLC TRC purchased a new position in shares of Danaos during the second quarter valued at $67,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Danaos by 165.0% during the fourth quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock valued at $73,000 after buying an additional 485 shares during the period. 19.01% of the stock is owned by hedge funds and other institutional investors.

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.