Dorian LPG Ltd. to Issue Special Dividend of $0.70 (NYSE:LPG)

Dorian LPG Ltd. (NYSE:LPG) announced a special dividend on Friday, January 30th. Shareholders of record on Monday, February 9th will be given a dividend of 0.70 per share by the shipping company on Tuesday, February 24th. This represents a yield of 950.0%. The ex-dividend date of this dividend is Monday, February 9th.

Dorian LPG has a payout ratio of 36.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Dorian LPG to earn $2.39 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 41.8%.

Dorian LPG Stock Performance

Shares of LPG opened at $32.39 on Friday. The firm has a fifty day moving average of $26.56 and a 200-day moving average of $28.20. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 11.40 and a beta of 0.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.30 and a current ratio of 2.41. Dorian LPG has a 1 year low of $16.66 and a 1 year high of $33.02.

Dorian LPG (NYSE:LPG) last released its quarterly earnings data on Thursday, February 5th. The shipping company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.06). The firm had revenue of $118.23 million during the quarter, compared to analyst estimates of $115.15 million. Dorian LPG had a return on equity of 11.82% and a net margin of 29.88%.The firm’s revenue was up 48.7% on a year-over-year basis. During the same period last year, the business earned $0.43 EPS. As a group, equities analysts anticipate that Dorian LPG will post 2.6 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Tim Truels Hansen sold 25,000 shares of the business’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $28.85, for a total value of $721,250.00. Following the sale, the insider owned 212,842 shares of the company’s stock, valued at approximately $6,140,491.70. The trade was a 10.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John C. Hadjipateras acquired 15,000 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was purchased at an average price of $27.30 per share, with a total value of $409,500.00. Following the acquisition, the chief executive officer owned 153,500 shares of the company’s stock, valued at approximately $4,190,550. This trade represents a 10.83% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 13.60% of the company’s stock.

Institutional Investors Weigh In On Dorian LPG

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Evermay Wealth Management LLC acquired a new stake in Dorian LPG in the 2nd quarter valued at about $32,000. NewEdge Advisors LLC raised its holdings in shares of Dorian LPG by 1,003.8% in the 1st quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company’s stock worth $32,000 after purchasing an additional 1,315 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Dorian LPG by 429.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,652 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 1,340 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Dorian LPG during the third quarter worth approximately $41,000. Finally, Sunbelt Securities Inc. bought a new stake in Dorian LPG during the third quarter worth approximately $41,000. 62.50% of the stock is currently owned by institutional investors.

About Dorian LPG

Dorian LPG Ltd., incorporated in Bermuda and headquartered in Greenwich, Connecticut, is a leading owner and operator of modern very large gas carriers (VLGCs). The company specializes in the maritime transportation of liquefied petroleum gas (LPG), primarily propane and butane, for energy producers, commodity traders and trading houses around the world.

Dorian LPG’s fleet comprises over 30 state-of-the-art VLGCs, each designed for fuel efficiency and environmental performance. These vessels operate under medium- and long-term time charter agreements, providing predictable employment and supporting a stable charter revenue profile through contracts with major international energy companies.

The company serves global energy markets by transporting LPG cargoes along major trade routes linking production centers in the Middle East, U.S.