Danaos Co. (DAC) To Go Ex-Dividend on February 24th

Danaos Co. (NYSE:DAC) announced a quarterly dividend on Monday, February 10th,Wall Street Journal reports. Shareholders of record on Monday, February 24th will be given a dividend of 0.85 per share by the shipping company on Wednesday, March 5th. This represents a $3.40 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend 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 Trading Up 3.9 %

Shares of DAC opened at $84.13 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.78 and a current ratio of 3.93. Danaos has a 52-week low of $69.33 and a 52-week high of $98.25. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 2.91 and a beta of 1.42. The business’s fifty day moving average is $79.22 and its 200-day moving average is $81.47.

Danaos (NYSE:DAC) last issued its earnings results on Monday, February 10th. The shipping company reported $6.50 EPS for the quarter, missing the consensus estimate of $6.52 by ($0.02). Danaos had a return on equity of 16.68% and a net margin of 56.16%. Equities analysts anticipate that Danaos will post 26.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DAC has been the subject of several research reports. Jefferies Financial Group reissued a “buy” rating and issued a $105.00 price objective on shares of Danaos in a research note on Tuesday. StockNews.com downgraded shares of Danaos from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th.

About Danaos

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.