Seanergy Maritime Holdings Corp (NASDAQ:SHIP) to Issue $0.05 Quarterly Dividend

Key Points

• Seanergy Maritime Holdings Corp has declared a quarterly dividend of $0.05 per share, with an annualized payout of $0.20 and a dividend yield of 2.7%. The ex-dividend date is set for September 29th.
• The company has a low payout ratio of 7.4%, indicating that its earnings sufficiently cover the dividend, and is expected to earn $0.38 per share next year, maintaining a projected future payout ratio of 52.6%.
• Several institutional investors, including Renaissance Technologies LLC and Millennium Management LLC, have recently increased their stakes in Seanergy Maritime, indicating growing institutional interest in the company.

Seanergy Maritime Holdings Corp (NASDAQ:SHIP - Get Free Report) declared a quarterly dividend on Wednesday, August 6th, Wall Street Journal reports. Stockholders of record on Monday, September 29th will be given a dividend of 0.05 per share by the shipping company on Friday, October 10th. This represents a c) dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, September 29th.

Seanergy Maritime has a payout ratio of 7.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Seanergy Maritime to earn $0.38 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 52.6%.

Seanergy Maritime Stock Performance

SHIP stock traded up $0.18 on Wednesday, reaching $7.46. 162,612 shares of the company were exchanged, compared to its average volume of 164,955. The firm has a market capitalization of $150.39 million, a PE ratio of 5.87 and a beta of 0.39. Seanergy Maritime has a 12 month low of $4.78 and a 12 month high of $12.65. The stock's fifty day moving average price is $6.68 and its 200 day moving average price is $6.50. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.74 and a quick ratio of 0.72.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SHIP. Renaissance Technologies LLC lifted its position in Seanergy Maritime by 13.5% during the 4th quarter. Renaissance Technologies LLC now owns 759,100 shares of the shipping company's stock valued at $5,276,000 after purchasing an additional 90,100 shares during the period. Millennium Management LLC boosted its stake in Seanergy Maritime by 46.4% in the fourth quarter. Millennium Management LLC now owns 570,330 shares of the shipping company's stock valued at $3,964,000 after acquiring an additional 180,876 shares during the last quarter. Two Sigma Investments LP raised its position in shares of Seanergy Maritime by 9.8% during the 4th quarter. Two Sigma Investments LP now owns 291,450 shares of the shipping company's stock valued at $2,026,000 after acquiring an additional 25,927 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Seanergy Maritime by 6.3% in the 4th quarter. Marshall Wace LLP now owns 226,712 shares of the shipping company's stock valued at $1,576,000 after purchasing an additional 13,513 shares during the period. Finally, Cubist Systematic Strategies LLC increased its holdings in Seanergy Maritime by 99.1% in the fourth quarter. Cubist Systematic Strategies LLC now owns 202,375 shares of the shipping company's stock valued at $1,407,000 after purchasing an additional 100,749 shares during the last quarter. Institutional investors own 29.36% of the company's stock.

Seanergy Maritime Company Profile

Seanergy Maritime Holdings Corp., a shipping company, provides seaborne transportation of dry bulk commodities worldwide. It operates a fleet of 16 Capesize dry bulk vessels and one Newcastlemax dry bulk vessel with a cargo-carrying capacity of approximately 3,054,820 dwt. The company was formerly known as Seanergy Merger Corp.

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