Tuesday, May 21, 2019

Pangaea Logistics (PANL)

New Dividend Reinforces View of Consistent Business Model

Pangaea Logistics Solutions Ltd and its subsidiaries provide seaborne drybulk transportation services. It transports drybulk cargos including grains, coal, iron, ore, pig, iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite and limestone. The firm’s services include cargo loading, cargo discharge, vessel chartering, voyage planning and technical vessel management.   

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

• Initiating A Dividend. The dividend of $0.035/share per quarter (paid on June 11th to record holders as of June 3rd) equates to an annual yield of 4.0%. Not only is the yield attractive, the dividend is a very positive signal that highlights the confidence in the consistency of the business model. It also should help broaden the shareholder base.
• Dividend Very Manageable. Cash flow has been consistently positive and there should be no problem sustaining an annual dividend of $5.1 million. Even adding the dividend to the $14 mil…

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