Star Bulk Carriers Corp. (SBLK) to Issue Quarterly Dividend of $0.37 on March 19th

Star Bulk Carriers Corp. (NASDAQ:SBLK) announced a quarterly dividend on Wednesday, February 25th. Stockholders of record on Monday, March 9th will be given a dividend of 0.37 per share by the shipping company on Thursday, March 19th. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Monday, March 9th. This is a 236.4% increase from Star Bulk Carriers’s previous quarterly dividend of $0.11.

Star Bulk Carriers has increased its dividend payment by an average of 1.2%annually over the last three years. Star Bulk Carriers has a payout ratio of 15.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Star Bulk Carriers to earn $2.64 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 16.7%.

Star Bulk Carriers Stock Performance

Shares of NASDAQ:SBLK opened at $25.02 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 34.27 and a beta of 0.79. Star Bulk Carriers has a 12 month low of $12.06 and a 12 month high of $25.82. The firm’s 50-day moving average is $21.69 and its 200 day moving average is $19.82.

About Star Bulk Carriers

Star Bulk Carriers Corp is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.

The company’s vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.