Ardmore Shipping Corporation (ASC) to Distribute Quarterly Dividend of $0.79 on September 15th

Ardmore Shipping Corporation (NYSE:ASC) announced a quarterly dividend on Wednesday, July 29th. Investors of record on Friday, August 28th will be paid a dividend of 0.79 per share by the shipping company on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 18.3%. The ex-dividend date is Friday, August 28th. This is a 102.6% increase from Ardmore Shipping’s previous quarterly dividend of $0.39.

Ardmore Shipping has increased its dividend by an average of 0.4%annually over the last three years. Ardmore Shipping has a payout ratio of 250.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Ardmore Shipping Price Performance

Shares of NYSE ASC opened at $17.24 on Friday. The stock has a fifty day moving average price of $16.33 and a 200 day moving average price of $15.58. Ardmore Shipping has a 1-year low of $10.17 and a 1-year high of $20.02. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.87 and a quick ratio of 4.43. The company has a market cap of $702.06 million, a PE ratio of 6.66 and a beta of 0.04.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings data on Wednesday, July 29th. The shipping company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.07. Ardmore Shipping had a net margin of 29.67% and a return on equity of 15.61%. The company had revenue of $116.21 million for the quarter, compared to analysts’ expectations of $86.30 million.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation is a Bermuda-based provider of seaborne transportation services for refined petroleum products. The company owns and operates a modern fleet of product tankers, including medium-range (MR), long-range 2 (LR2) and Aframax vessels. Ardmore Shipping focuses on the ocean carriage of clean and dirty petroleum products under time charters, bareboat charters and spot voyages, serving a diverse customer base that includes major oil companies and trading houses.

Since its founding in 2005, Ardmore Shipping has grown its fleet through newbuilding contracts, second-hand acquisitions and fleet renewals, aiming to maintain a high quality, fuel-efficient profile.