Seaspan Corporation (NYSE:SSW) announced a quarterly dividend on Tuesday, July 11th, RTT News reports. Stockholders of record on Thursday, July 20th will be paid a dividend of 0.125 per share by the shipping company on Monday, July 31st. This represents a $0.50 annualized dividend and a dividend yield of 7.42%. The ex-dividend date of this dividend is Tuesday, July 18th.

Seaspan Corporation has raised its dividend payment by an average of 8.1% annually over the last three years and has raised its dividend every year for the last 5 years. Seaspan Corporation has a payout ratio of 70.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Seaspan Corporation to earn $1.10 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 45.5%.

Shares of Seaspan Corporation (SSW) opened at 6.74 on Monday. The stock’s 50 day moving average is $5.85 and its 200 day moving average is $7.43. The company’s market capitalization is $737.91 million. Seaspan Corporation has a 12 month low of $5.02 and a 12 month high of $15.45.

Seaspan Corporation (NYSE:SSW) last released its quarterly earnings data on Wednesday, April 26th. The shipping company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. The business had revenue of $201.30 million for the quarter, compared to the consensus estimate of $204.09 million. Seaspan Corporation had a negative net margin of 12.29% and a positive return on equity of 8.08%. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. On average, equities analysts predict that Seaspan Corporation will post $0.71 EPS for the current fiscal year.

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A number of brokerages recently issued reports on SSW. Zacks Investment Research downgraded shares of Seaspan Corporation from a “hold” rating to a “sell” rating in a report on Saturday. Stifel Nicolaus reissued a “hold” rating and set a $7.00 price target on shares of Seaspan Corporation in a report on Friday. BidaskClub raised shares of Seaspan Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. ValuEngine downgraded shares of Seaspan Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Citigroup Inc. raised shares of Seaspan Corporation from a “sell” rating to a “neutral” rating and set a $7.00 price target on the stock in a report on Tuesday, May 2nd. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Seaspan Corporation presently has a consensus rating of “Hold” and a consensus price target of $6.94.

About Seaspan Corporation

Seaspan Corporation is an independent charter owner and manager of containerships. The Company charters pursuant to long-term, fixed-rate time charters with various container liner companies. As of February 20, 2017, it had operated a fleet of 88 containerships and had entered into contracts for the purchase of an additional eight new building containerships.

Dividend History for Seaspan Corporation (NYSE:SSW)

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