Star Bulk Carriers Corp. (NASDAQ:SBLK) Declares Dividend Increase – $0.11 Per Share

Star Bulk Carriers Corp. (NASDAQ:SBLK) declared a quarterly dividend on Tuesday, November 18th. Investors of record on Friday, December 5th will be given a dividend of 0.11 per share by the shipping company on Thursday, December 18th. This represents a c) dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, December 5th. This is a 120.0% increase from Star Bulk Carriers’s previous quarterly dividend of $0.05.

Star Bulk Carriers has raised its dividend by an average of 1.2%annually over the last three years. Star Bulk Carriers has a payout ratio of 6.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Star Bulk Carriers to earn $2.64 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 7.6%.

Star Bulk Carriers Stock Down 0.1%

SBLK stock opened at $19.28 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.42 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average of $18.53 and a two-hundred day moving average of $17.96. Star Bulk Carriers has a 12 month low of $12.06 and a 12 month high of $20.20. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 18.16 and a beta of 0.92.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SBLK. Triumph Capital Management purchased a new position in shares of Star Bulk Carriers during the third quarter worth $26,000. Rhumbline Advisers boosted its holdings in Star Bulk Carriers by 141.7% during the 3rd quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 1,022 shares during the period. Morse Asset Management Inc purchased a new position in Star Bulk Carriers during the 3rd quarter valued at about $37,000. Jones Financial Companies Lllp grew its position in Star Bulk Carriers by 50.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,381 shares of the shipping company’s stock valued at $46,000 after acquiring an additional 802 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Star Bulk Carriers by 135.2% during the second quarter. Tower Research Capital LLC TRC now owns 2,420 shares of the shipping company’s stock worth $42,000 after purchasing an additional 1,391 shares during the period. 33.91% of the stock is currently owned by institutional investors and hedge funds.

About Star Bulk Carriers

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of bulk commodities, including iron ores, minerals and grains, bauxite, fertilizers, and steel products. As of December 31, 2023, the company owned a fleet of 116 dry bulk vessels with combined carrying capacity of 13.1 million deadweight tonnage (dwt) consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, and Supramax vessels with carrying capacities between 53,489 dwt and 209,537 dwt.