Navigator Holdings Ltd. (NYSE:NVGS) Increases Dividend to $0.08 Per Share

Key Points

• Navigator raised its quarterly dividend 14.3%, from $0.07 to $0.08 per share, equivalent to an annualized $0.32 and a 1.6% yield. The dividend is payable December 3 to shareholders of record November 17.
• The dividend appears well covered: Navigator’s payout ratio is 17.8%, and analysts expect next year’s earnings to support continued payments.
• Navigator reported quarterly EPS of $0.41, topping the $0.40 consensus, while revenue of $155.03 million also exceeded analyst estimates of $132.87 million.

Navigator Holdings Ltd. (NYSE:NVGS - Get Free Report) declared a quarterly dividend on Tuesday, November 3rd. Investors of record on Tuesday, November 17th will be given a dividend of $0.08 per share by the shipping company on Thursday, December 3rd. This represents a $0.32 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, November 17th. This is a 14.3% increase from Navigator's previous quarterly dividend of $0.07.

Navigator has a dividend payout ratio of 17.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Navigator to earn $1.85 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 15.1%.

Navigator Stock Up 1.0%

NVGS stock opened at $20.19 on Wednesday. The stock has a market cap of $1.23 billion, a P/E ratio of 9.85, a PEG ratio of 0.51 and a beta of 0.55. The company has a quick ratio of 1.62, a current ratio of 1.71 and a debt-to-equity ratio of 0.61. The business's 50-day moving average price is $22.69 and its 200-day moving average price is $21.15. Navigator has a twelve month low of $16.12 and a twelve month high of $25.48.

Navigator (NYSE:NVGS - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The shipping company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.01. Navigator had a return on equity of 10.45% and a net margin of 22.80%. The business had revenue of $155.03 million during the quarter, compared to analyst estimates of $132.87 million. On average, equities research analysts forecast that Navigator will post 1.77 EPS for the current year.

About Navigator

Navigator Holdings Ltd., operating under the name Navigator Gas, is a maritime transportation company that owns and operates a fleet of specialized gas carriers. The company transports liquefied petroleum gas (LPG), petrochemical gases such as ethylene and ethane, ammonia and other liquefied gases for energy, industrial and chemical customers.

Its fleet includes semi-refrigerated and fully pressurized vessels, as well as ethylene-capable carriers designed to handle cargoes requiring specialized containment and temperature controls.

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