Seanergy Maritime Holdings Corp Plans Quarterly Dividend of $0.05 (NASDAQ:SHIP)

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) announced a quarterly dividend on Wednesday, August 6th, Wall Street Journal reports. Stockholders of record on Monday, September 29th will be paid 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 of this dividend is Monday, September 29th.

Seanergy Maritime has a payout ratio of 7.4% indicating that its dividend is sufficiently covered by earnings. Equities 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

Shares of SHIP stock traded down $0.06 during mid-day trading on Friday, reaching $7.43. 83,462 shares of the company's stock traded hands, compared to its average volume of 119,070. Seanergy Maritime has a 12 month low of $4.78 and a 12 month high of $12.65. The firm has a 50 day moving average price of $6.75 and a two-hundred day moving average price of $6.50. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.37 and a current ratio of 0.39. The firm has a market capitalization of $149.79 million, a PE ratio of 10.18 and a beta of 0.39.

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.