Himalaya Shipping Ltd. (NYSE:HSHP) Declares Dividend of $0.28

Key Points

• Himalaya Shipping declared a $0.28-per-share dividend, a 12% increase from the previous $0.25 payout. Investors must own shares by October 19 to receive payment on October 27; the ex-dividend date is October 16.
• The dividend appears well covered, with a payout ratio of just 3.7%. In its latest quarter, the company reported $0.52 in earnings per share and $55.3 million in revenue.
• HSHP shares opened at $17.89, compared with a 52-week range of $7.37 to $19.55. Institutional investors own 22.33% of the company, which operates dual-fuel Newcastlemax dry bulk vessels.

Himalaya Shipping Ltd. (NYSE:HSHP - Get Free Report) declared a dividend on Sunday, October 4th. Investors of record on Monday, October 19th will be given a dividend of $0.28 per share on Tuesday, October 27th. The ex-dividend date of this dividend is Friday, October 16th. This is a 12.0% increase from Himalaya Shipping's previous dividend of $0.25.

Himalaya Shipping has a payout ratio of 3.7% meaning its dividend is sufficiently covered by earnings.

Himalaya Shipping Stock Performance

Shares of HSHP stock opened at $17.89 on Wednesday. The firm has a market capitalization of $834.57 million, a price-to-earnings ratio of 15.83 and a beta of 1.36. The company has a debt-to-equity ratio of 4.00, a current ratio of 1.19 and a quick ratio of 1.19. The business has a fifty day moving average of $17.26 and a 200 day moving average of $15.50. Himalaya Shipping has a 1 year low of $7.37 and a 1 year high of $19.55.

Himalaya Shipping (NYSE:HSHP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 1st. The company reported $0.52 EPS for the quarter. The company had revenue of $55.30 million during the quarter. Himalaya Shipping had a return on equity of 32.83% and a net margin of 31.44%.

Hedge Funds Weigh In On Himalaya Shipping

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in Himalaya Shipping by 213.8% during the third quarter. GAMMA Investing LLC now owns 1,751 shares of the company's stock worth $30,000 after acquiring an additional 1,193 shares during the period. Tidal Investments LLC purchased a new position in Himalaya Shipping during the second quarter valued at approximately $141,000. The Manufacturers Life Insurance Company purchased a new position in Himalaya Shipping during the first quarter valued at approximately $171,000. Engineers Gate Manager LP lifted its holdings in Himalaya Shipping by 28.0% in the second quarter. Engineers Gate Manager LP now owns 15,352 shares of the company's stock valued at $205,000 after acquiring an additional 3,362 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in Himalaya Shipping in the second quarter valued at approximately $262,000. Hedge funds and other institutional investors own 22.33% of the company's stock.

Himalaya Shipping Company Profile

Himalaya Shipping Ltd. is a Bermuda-based dry bulk shipping company focused on owning and operating large-capacity Newcastlemax vessels. The company transports major dry bulk commodities, including iron ore and coal, for customers in the global commodities and steel industries.

Himalaya Shipping was established in 2021 and has developed a fleet of Newcastlemax vessels designed to serve long-haul dry bulk routes. Its ships are equipped with dual-fuel engines capable of using liquefied natural gas, supporting improved fuel efficiency and lower emissions compared with conventional vessel designs.

The company's vessels operate internationally, serving key trade routes connecting major mining, energy and steel-producing regions.

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