Danaos Co. (NYSE:DAC) to Issue $0.80 Quarterly Dividend

Danaos Co. (NYSE:DAC) announced a quarterly dividend on Monday, August 5th, NASDAQ reports. Investors of record on Tuesday, August 20th will be given a dividend of 0.80 per share by the shipping company on Thursday, August 29th. This represents a $3.20 annualized dividend and a yield of 3.97%. The ex-dividend date is Tuesday, August 20th.

Danaos has a dividend payout ratio of 13.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Danaos to earn $29.00 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 11.0%.

Danaos Price Performance

Shares of Danaos stock traded down $0.73 on Tuesday, hitting $80.63. The company had a trading volume of 172,853 shares, compared to its average volume of 106,999. Danaos has a 52 week low of $62.37 and a 52 week high of $98.25. The company has a market cap of $1.57 billion, a PE ratio of 2.74 and a beta of 1.51. The business has a 50-day simple moving average of $89.81 and a 200-day simple moving average of $80.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.89 and a quick ratio of 3.75.

Danaos (NYSE:DAC) last issued its quarterly earnings results on Monday, August 5th. The shipping company reported $6.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.04 by ($0.26). Danaos had a net margin of 59.04% and a return on equity of 18.99%. The firm had revenue of $246.31 million for the quarter, compared to analyst estimates of $238.83 million. During the same quarter last year, the business posted $7.14 earnings per share. Research analysts expect that Danaos will post 29.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group boosted their target price on shares of Danaos from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th.

Danaos Company Profile

Danaos Corporation, together with its subsidiaries, provides container and drybulk vessels services in Australia, Asia, and Europe. The company offers seaborne transportation services by operating vessels in the containership and drybulk sectors of the shipping industry. As of April 03, 2024, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity.