Navios Maritime Partners L.P. (NYSE:NMM) Plans $0.05 Quarterly Dividend

Navios Maritime Partners L.P. (NYSE:NMM) declared a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Stockholders of record on Friday, May 10th will be paid a dividend of 0.05 per share by the shipping company on Tuesday, May 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Thursday, May 9th.

Navios Maritime Partners has decreased its dividend payment by an average of 29.1% per year over the last three years. Navios Maritime Partners has a payout ratio of 1.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Navios Maritime Partners to earn $16.79 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 1.2%.

Navios Maritime Partners Price Performance

Shares of NYSE:NMM traded down $1.05 during trading on Tuesday, reaching $43.15. The company had a trading volume of 90,026 shares, compared to its average volume of 154,508. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. Navios Maritime Partners has a 12 month low of $19.23 and a 12 month high of $45.88. The company has a fifty day moving average of $40.50 and a two-hundred day moving average of $31.24. The stock has a market capitalization of $1.30 billion, a P/E ratio of 3.14 and a beta of 1.97.

Navios Maritime Partners (NYSE:NMM) last released its earnings results on Tuesday, February 13th. The shipping company reported $4.32 EPS for the quarter, beating the consensus estimate of $2.58 by $1.74. Navios Maritime Partners had a net margin of 33.18% and a return on equity of 14.74%. The company had revenue of $327.50 million for the quarter, compared to analyst estimates of $322.00 million. During the same quarter last year, the firm earned $3.66 EPS. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year. Equities research analysts forecast that Navios Maritime Partners will post 14.53 earnings per share for the current year.

About Navios Maritime Partners

Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.