United Maritime Corporation (USEA) to Distribute Quarterly Dividend of $0.10 on October 9th

United Maritime Corporation (NASDAQ:USEA) announced a quarterly dividend on Tuesday, July 28th. Stockholders of record on Friday, September 25th will be paid a dividend of 0.10 per share on Friday, October 9th. This represents a c) dividend on an annualized basis and a dividend yield of 12.9%. The ex-dividend date of this dividend is Friday, September 25th.

United Maritime has a dividend payout ratio of -49.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

United Maritime Stock Up 1.6%

United Maritime stock opened at $3.09 on Wednesday. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.96 and a quick ratio of 0.94. United Maritime has a 1-year low of $1.42 and a 1-year high of $3.20. The stock has a market cap of $29.48 million, a PE ratio of -15.45 and a beta of 0.81. The stock’s fifty day moving average is $2.77 and its two-hundred day moving average is $2.48.

United Maritime (NASDAQ:USEA) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.03 by $0.12. The company had revenue of $9.99 million for the quarter, compared to analyst estimates of $9.80 million. United Maritime had a negative net margin of 5.07% and a positive return on equity of 2.31%.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in United Maritime stock. NewEdge Advisors LLC lifted its stake in shares of United Maritime Corporation (NASDAQ:USEA) by 208.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 81,105 shares of the company’s stock after acquiring an additional 54,773 shares during the period. NewEdge Advisors LLC owned 0.85% of United Maritime worth $213,000 as of its most recent SEC filing. 1.63% of the stock is currently owned by institutional investors.

About United Maritime

United Maritime Corporation (NASDAQ: USEA) is a global shipping company that owns and operates oceangoing vessels engaged in the transportation of commodities and other cargoes. Its fleet activities have primarily focused on dry bulk carriers and tankers, which serve international trade routes.

The company’s dry bulk vessels transport commodities such as grains, coal, and other bulk materials, while its tanker operations are designed to carry liquid cargoes. United Maritime employs a combination of charter arrangements, including time charters and voyage-based employment, to commercialize its vessels and serve customers in international markets.

United Maritime is based in Greece and has historically been associated with the Greek shipping industry.