Star Bulk Carriers Corp. (SBLK) To Go Ex-Dividend on December 5th

Star Bulk Carriers Corp. (NASDAQ:SBLK) declared a quarterly dividend on Tuesday, November 18th. Stockholders of record on Friday, December 5th will be paid 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 dividend yield of 2.1%. The ex-dividend date 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%per year over the last three years. Star Bulk Carriers has a payout ratio of 15.3% indicating that 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 $0.44 annual dividend with an expected future payout ratio of 16.7%.

Star Bulk Carriers Trading Up 4.0%

SBLK traded up $0.80 during trading on Wednesday, hitting $20.60. The company’s stock had a trading volume of 923,641 shares, compared to its average volume of 1,492,921. The firm has a market capitalization of $2.42 billion, a P/E ratio of 39.61 and a beta of 0.75. Star Bulk Carriers has a twelve month low of $12.06 and a twelve month high of $20.87. The stock’s fifty day moving average price is $18.55 and its 200-day moving average price is $18.23. The company has a quick ratio of 1.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.36.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Triumph Capital Management bought a new position in Star Bulk Carriers during the third quarter valued at about $26,000. Rhumbline Advisers boosted its stake in Star Bulk Carriers by 141.7% in the third 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 last quarter. Sunbelt Securities Inc. bought a new position in shares of Star Bulk Carriers during the 3rd quarter valued at approximately $33,000. Morse Asset Management Inc purchased a new stake in shares of Star Bulk Carriers during the 3rd quarter worth approximately $37,000. Finally, Jones Financial Companies Lllp increased its stake in shares of Star Bulk Carriers by 50.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,381 shares of the shipping company’s stock worth $46,000 after purchasing an additional 802 shares during the last quarter. Institutional investors own 33.91% of the company’s stock.

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.