Seanergy Maritime Holdings Corp (NASDAQ:SHIP) to Issue Quarterly Dividend of $0.35

Seanergy Maritime Holdings Corp (NASDAQ:SHIP) announced a quarterly dividend on Thursday, July 30th. Stockholders of record on Friday, September 25th will be given a dividend of 0.35 per share by the shipping company on Friday, October 9th. This represents a c) annualized dividend and a dividend yield of 7.9%. The ex-dividend date is Friday, September 25th. This is a 75.0% increase from Seanergy Maritime’s previous quarterly dividend of $0.20.

Seanergy Maritime has a dividend payout ratio of 29.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Seanergy Maritime to earn $0.74 per share next year, which means the company may not be able to cover its $0.80 annual dividend with an expected future payout ratio of 108.1%.

Seanergy Maritime Trading Up 10.8%

Shares of NASDAQ:SHIP traded up $1.73 during trading hours on Thursday, hitting $17.82. 670,527 shares of the company’s stock traded hands, compared to its average volume of 241,896. Seanergy Maritime has a 1 year low of $6.70 and a 1 year high of $17.93. The business has a fifty day moving average price of $15.02 and a 200-day moving average price of $13.72. The firm has a market capitalization of $372.44 million, a P/E ratio of 9.96 and a beta of 0.94. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.85 and a quick ratio of 0.83.

Seanergy Maritime (NASDAQ:SHIP) last released its earnings results on Thursday, July 30th. The shipping company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.16. Seanergy Maritime had a return on equity of 14.47% and a net margin of 20.96%. Equities analysts expect that Seanergy Maritime will post 2.87 earnings per share for the current year.

About Seanergy Maritime

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) is a dry bulk shipping company that provides seaborne transportation services for major commodities, including iron ore, coal and grain. The company’s operations encompass both time charter and voyage charter contracts, enabling customers to secure vessel capacity on either a fixed-rate or spot basis. Its client base includes commodity producers, trading houses and industrial end users seeking global logistics solutions for bulk materials.

The company’s core assets consist of a fleet of modern dry bulk carriers, spanning Capesize, Panamax and Supramax classes.