Danaos Corporation (NYSE:DAC) Announces Quarterly Dividend of $0.90

Danaos Corporation (NYSE:DAC) declared a quarterly dividend on Monday, May 11th. Shareholders of record on Tuesday, May 26th will be given a dividend of 0.90 per share by the shipping company on Thursday, June 4th. This represents a c) dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, May 26th.

Danaos has a payout ratio of 13.7% meaning its dividend is sufficiently covered by earnings.

Danaos Price Performance

Shares of NYSE:DAC opened at $133.67 on Tuesday. Danaos has a one year low of $82.75 and a one year high of $135.21. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 4.99 and a beta of 0.90. The company has a 50-day simple moving average of $116.54 and a 200-day simple moving average of $104.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.23 and a current ratio of 3.28.

Danaos (NYSE:DAC) last issued its quarterly earnings results on Monday, May 11th. The shipping company reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.40 by $1.32. Danaos had a return on equity of 13.31% and a net margin of 47.45%.The firm had revenue of $253.70 million for the quarter, compared to analysts’ expectations of $236.50 million.

Institutional Trading of Danaos

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ION Fund Management Ltd purchased a new stake in shares of Danaos in the fourth quarter valued at about $39,538,000. Ion Asset Management Ltd. raised its position in shares of Danaos by 15.5% during the 2nd quarter. Ion Asset Management Ltd. now owns 654,308 shares of the shipping company’s stock worth $56,428,000 after purchasing an additional 87,614 shares during the last quarter. Millennium Management LLC lifted its stake in Danaos by 161.8% in the 3rd quarter. Millennium Management LLC now owns 133,401 shares of the shipping company’s stock valued at $11,981,000 after buying an additional 82,450 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Danaos by 58.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 106,089 shares of the shipping company’s stock valued at $9,991,000 after buying an additional 38,958 shares during the last quarter. Finally, Hi Line Capital Management LLC grew its holdings in Danaos by 98.6% during the 3rd quarter. Hi Line Capital Management LLC now owns 57,133 shares of the shipping company’s stock valued at $5,131,000 after buying an additional 28,365 shares during the last quarter. Institutional investors and hedge funds own 19.01% of the company’s stock.

About Danaos

Danaos Corporation is a leading independent owner and manager of containerships, specializing in long-term charters of modern vessels to major liner companies worldwide. The company’s core services include vessel acquisition and sale, technical and crew management, and commercial chartering, all aimed at supporting global containerized trade. Danaos leverages its in-house expertise in operations, maintenance and regulatory compliance to ensure reliable and efficient fleet performance.

Founded in 1972 by Dr.