Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) spotted trading -10.51% off 52-week high price. On the other end, the stock has been noted 25.54% away from the low price over the last 52-weeks. The stock changed 1.16% to recent value of $3.49. The stock transacted 25959 shares during most recent day however it has an average volume of 29.4K shares. The company has 44.49M of outstanding shares and 24.48M shares were floated in the market.
Pangaea Logistics Solutions Ltd. (NASDAQ:PANL), a global provider of comprehensive maritime logistics solutions, reported that its Board of Directors has announced an initial quarterly cash dividend of $0.035 per common share, a rate of $0.14 per share on an annualized basis, to be paid on June 11, 2019 to all shareholders of record as of June 3, 2019.
Ed Coll, Pangaea’s Chairman and CEO noted, “With a proven and defensible business model, we have remained profitable, and we have consistently reinvested those proceeds in our operations. This is the first cash dividend paid in Pangaea’s history as a public company and demonstrates our commitment to enhancing shareholder value, including through quarterly cash dividends. We are grateful to all of our shareholders for their support and loyalty and we look forward to continuing to execute on our proven strategy.”
Peter Yu, Managing Partner of Cartesian Capital Group, said, “As Pangaea’s largest shareholder, we are thankful for Ed Coll’s continued leadership and pleased with the Company’s dedication to long-term shareholder value. Today, with Pangaea’s first-ever quarterly dividend, we see the Company taking a further step toward becoming recognized as a leading growth and income company.” Cartesian Capital Group controls 32% of Pangaea’s common shares.
Its earnings per share (EPS) expected to touch remained 106.80% for this year . PANL has a gross margin of 29.70% and an operating margin of 9.60% while its profit margin remained 6.00% for the last 12 months.
According to the most recent quarter its current ratio was 1.4 that represents company’s ability to meet its current financial obligations. The price moved ahead of 2.38% from the mean of 20 days, 4.11% from mean of 50 days SMA and performed 6.44% from mean of 200 days price. Company’s performance for the week was 0.29%, 1.16% for month and YTD performance remained 15.18%.