United Maritime Corporation (NASDAQ:USEA) Declares Dividend Increase – $0.20 Per Share

United Maritime Corporation (NASDAQ:USEA) announced a quarterly dividend on Wednesday, November 11th. Stockholders of record on Thursday, December 24th will be given a dividend of $0.20 per share on Friday, January 8th. This represents a $0.80 annualized dividend and a dividend yield of 26.5%. The ex-dividend date of this dividend is Thursday, December 24th. This is a 100.0% increase from United Maritime’s previous quarterly dividend of $0.10.

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 Price Performance

NASDAQ USEA opened at $3.02 on Friday. The company has a 50-day moving average price of $2.70 and a 200-day moving average price of $2.42. United Maritime has a 52 week low of $1.42 and a 52 week high of $3.20. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $28.81 million, a P/E ratio of 17.57 and a beta of 0.83.

United Maritime (NASDAQ:USEA) last posted its quarterly earnings data on Thursday, November 12th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.12. The company had revenue of $11.97 million for the quarter, compared to the consensus estimate of $10.90 million. United Maritime had a negative net margin of 5.07% and a positive return on equity of 2.31%.

Analysts Set New Price Targets

USEA has been the subject of a number of research reports. Wall Street Zen cut shares of United Maritime from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. Weiss Ratings cut shares of United Maritime from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company currently has an average rating of “Sell”.

United Maritime Company Profile

United Maritime Corporation (NASDAQ: USEA) is a global shipping company engaged in the ownership and operation of oceangoing vessels. The company primarily provides seaborne transportation services for dry bulk commodities and liquid cargoes through its fleet of dry bulk carriers and tankers. United Maritime’s vessels transport commodities such as grains, coal, and other dry bulk materials, as well as petroleum products and related liquid cargoes. The company generates revenue by employing its vessels under voyage charters, time charters, and other commercial arrangements with customers in international shipping markets.