Ardmore Shipping Corporation (NYSE:ASC) Raises Dividend to $0.39 Per Share

Key Points

• Ardmore Shipping raised its quarterly dividend to $0.39 per share (ex‑dividend May 29, payable June 12), a 333.3% increase8.3%.
• The company beat estimates, reporting $0.58 EPS versus $0.51 expected and revenue of $87.92M versus $58.08M, and its dividend payout ratio of 28.6% indicates the payout is comfortably covered by earnings.
• Shares traded at $18.80 with a 52‑week range of $9.18–$19.62 and a market cap of about $765.5M; the balance sheet shows low leverage (debt/equity 0.20) and strong liquidity (current ratio 4.33).

Ardmore Shipping Corporation (NYSE:ASC - Get Free Report) announced a quarterly dividend on Thursday, May 7th. Shareholders of record on Friday, May 29th will be given a dividend of 0.39 per share by the shipping company on Friday, June 12th. This represents a c) annualized dividend and a yield of 8.3%. The ex-dividend date is Friday, May 29th. This is a 333.3% increase from Ardmore Shipping's previous quarterly dividend of $0.09.

Ardmore Shipping has raised its dividend payment by an average of 0.4%annually over the last three years. Ardmore Shipping has a dividend payout ratio of 28.6% indicating that its dividend is sufficiently covered by earnings.

Ardmore Shipping Price Performance

Shares of ASC stock traded up $0.01 during trading hours on Thursday, reaching $18.80. The company's stock had a trading volume of 857,251 shares, compared to its average volume of 702,891. Ardmore Shipping has a fifty-two week low of $9.18 and a fifty-two week high of $19.62. The firm's 50 day simple moving average is $15.77 and its 200-day simple moving average is $13.46. The company has a quick ratio of 3.98, a current ratio of 4.33 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $765.52 million, a price-to-earnings ratio of 21.12 and a beta of 0.03.

Ardmore Shipping (NYSE:ASC - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The shipping company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.07. The company had revenue of $87.92 million during the quarter, compared to analysts' expectations of $58.08 million. Ardmore Shipping had a return on equity of 7.02% and a net margin of 13.22%.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation is a Bermuda-based provider of seaborne transportation services for refined petroleum products. The company owns and operates a modern fleet of product tankers, including medium-range (MR), long-range 2 (LR2) and Aframax vessels. Ardmore Shipping focuses on the ocean carriage of clean and dirty petroleum products under time charters, bareboat charters and spot voyages, serving a diverse customer base that includes major oil companies and trading houses.

Since its founding in 2005, Ardmore Shipping has grown its fleet through newbuilding contracts, second-hand acquisitions and fleet renewals, aiming to maintain a high quality, fuel-efficient profile.

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