Danaos Co. Plans Quarterly Dividend of $0.85 (NYSE:DAC)

Danaos Co. (NYSE:DAC) announced a quarterly dividend on Monday, February 10th,Wall Street Journal reports. Investors of record on Monday, February 24th will be paid a dividend of 0.85 per share by the shipping company on Wednesday, March 5th. This represents a $3.40 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Monday, February 24th.

Danaos has increased its dividend payment by an average of 29.4% annually over the last three years. Danaos has a payout ratio of 12.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Danaos to earn $29.22 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 11.6%.

Danaos Stock Up 3.9 %

Shares of NYSE:DAC opened at $84.13 on Wednesday. The firm has a market cap of $1.63 billion, a P/E ratio of 2.91 and a beta of 1.42. Danaos has a 12-month low of $69.33 and a 12-month high of $98.25. The business has a fifty day simple moving average of $79.22 and a 200 day simple moving average of $81.47. The company has a quick ratio of 3.78, a current ratio of 3.93 and a debt-to-equity ratio of 0.19.

Danaos (NYSE:DAC) last posted its quarterly earnings data on Monday, February 10th. The shipping company reported $6.50 EPS for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.02). Danaos had a return on equity of 16.68% and a net margin of 56.16%. Analysts predict that Danaos will post 26.95 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Danaos in a research note on Tuesday. StockNews.com lowered shares of Danaos from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th.

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.