Himalaya Shipping Ltd. Announces Dividend of $0.22 (NYSE:HSHP)

Key Points

• Himalaya Shipping Ltd. declared a dividend of $0.22 per share, with the ex-dividend date on July 17, record date on July 20, and payment scheduled for July 28.
• The company’s dividend appears well covered, with a payout ratio of just 3.7%. That suggests earnings comfortably support the dividend.
• HSHP stock rose 4.5% and last traded at $15.71, near its 52-week high of $16.69. The company also reported mixed quarterly results, missing EPS estimates but beating revenue expectations.

Himalaya Shipping Ltd. (NYSE:HSHP - Get Free Report) declared a dividend on Friday, January 1st. Investors of record on Monday, July 20th will be given a dividend of 0.22 per share on Tuesday, July 28th. The ex-dividend date is Friday, July 17th.

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

Himalaya Shipping Stock Up 4.5%

Himalaya Shipping stock opened at $15.71 on Wednesday. Himalaya Shipping has a fifty-two week low of $6.47 and a fifty-two week high of $16.69. The stock has a market cap of $732.64 million, a PE ratio of 24.93 and a beta of 1.43. The firm's 50-day simple moving average is $14.74 and its 200 day simple moving average is $12.99. The company has a debt-to-equity ratio of 4.23, a quick ratio of 0.95 and a current ratio of 0.95.

Himalaya Shipping (NYSE:HSHP - Get Free Report) last issued its quarterly earnings data on Friday, May 15th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). The firm had revenue of $34.90 million during the quarter, compared to the consensus estimate of $33.30 million. Himalaya Shipping had a return on equity of 18.28% and a net margin of 20.28%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HSHP. AQR Capital Management LLC lifted its holdings in shares of Himalaya Shipping by 10.2% in the fourth quarter. AQR Capital Management LLC now owns 15,169 shares of the company's stock worth $138,000 after buying an additional 1,402 shares in the last quarter. Bank of America Corp DE grew its stake in Himalaya Shipping by 9.8% during the third quarter. Bank of America Corp DE now owns 26,900 shares of the company's stock valued at $221,000 after acquiring an additional 2,394 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Himalaya Shipping by 80.3% during the third quarter. BNP Paribas Financial Markets now owns 5,656 shares of the company's stock valued at $47,000 after acquiring an additional 2,519 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Himalaya Shipping by 17.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,932 shares of the company's stock worth $164,000 after acquiring an additional 2,622 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in Himalaya Shipping by 2.9% during the 4th quarter. Russell Investments Group Ltd. now owns 93,190 shares of the company's stock worth $848,000 after acquiring an additional 2,661 shares during the period. 22.33% of the stock is currently owned by hedge funds and other institutional investors.

Himalaya Shipping Company Profile

Himalaya Shipping Ltd. provides dry bulk shipping services worldwide. The company operates a fleet of vessels. It serves major commodity trading, commodity and energy transition, and multi-modal transport companies. Himalaya Shipping Ltd. was incorporated in 2021 and is based in Hamilton, Bermuda.

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