Scorpio Bulkers Inc (NYSE:SALT) declared a quarterly dividend on Friday, April 26th, NASDAQ reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.02 per share by the shipping company on Friday, May 31st. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Tuesday, May 14th.
Shares of SALT stock traded down $0.10 during midday trading on Friday, hitting $4.23. 295,100 shares of the company were exchanged, compared to its average volume of 421,741. The company has a market capitalization of $308.38 million, a price-to-earnings ratio of -141.00 and a beta of 2.33. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.43 and a current ratio of 0.43. Scorpio Bulkers has a 52 week low of $3.57 and a 52 week high of $7.60.
Scorpio Bulkers (NYSE:SALT) last issued its earnings results on Monday, April 29th. The shipping company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.18) by $0.24. The company had revenue of $50.40 million during the quarter, compared to analysts’ expectations of $49.25 million. Scorpio Bulkers had a negative net margin of 4.36% and a positive return on equity of 0.92%. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.08) EPS. Sell-side analysts forecast that Scorpio Bulkers will post -0.23 EPS for the current year.
An institutional investor recently raised its position in Scorpio Bulkers stock. Geode Capital Management LLC lifted its holdings in shares of Scorpio Bulkers Inc (NYSE:SALT) by 19.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 203,962 shares of the shipping company’s stock after buying an additional 32,817 shares during the period. Geode Capital Management LLC owned about 0.29% of Scorpio Bulkers worth $1,127,000 at the end of the most recent reporting period. Institutional investors own 36.82% of the company’s stock.
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About Scorpio Bulkers
Scorpio Bulkers Inc, a shipping company, owns and operates dry bulk carriers worldwide. Its vessels transport a range of bulk commodities, including ores, coal, grains, and fertilizers. The company owns and operates 55 vessels, including 54 wholly-owned or finance leased drybulk vessels comprising 17 Kamsarmax vessels and 37 Ultramax vessels; and 1 time chartered-in Ultramax vessel.
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