Navios Maritime Partners L.P. (NYSE:NMM) Announces Quarterly Dividend of $0.05

Navios Maritime Partners L.P. (NYSE:NMM) announced a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Investors of record on Friday, May 10th will be given a dividend of 0.05 per share by the shipping company on Tuesday, May 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Thursday, May 9th.

Navios Maritime Partners has decreased its dividend payment by an average of 29.1% annually over the last three years. Navios Maritime Partners has a dividend payout ratio of 1.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Navios Maritime Partners to earn $16.79 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 1.2%.

Navios Maritime Partners Stock Down 2.4 %

Shares of NYSE:NMM traded down $1.05 on Tuesday, reaching $43.15. The company had a trading volume of 90,026 shares, compared to its average volume of 154,508. Navios Maritime Partners has a twelve month low of $19.23 and a twelve month high of $45.88. The stock has a 50-day moving average price of $40.50 and a 200 day moving average price of $31.24. The stock has a market capitalization of $1.30 billion, a P/E ratio of 3.14 and a beta of 1.97. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.57.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings results on Tuesday, February 13th. The shipping company reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $1.74. Navios Maritime Partners had a return on equity of 14.74% and a net margin of 33.18%. The company had revenue of $327.50 million during the quarter, compared to analysts’ expectations of $322.00 million. During the same quarter in the previous year, the firm earned $3.66 earnings per share. The business’s quarterly revenue was down 11.7% compared to the same quarter last year. On average, equities analysts expect that Navios Maritime Partners will post 14.53 EPS for the current year.

About Navios Maritime Partners

Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.