EX-Dividend Schedule: Aegean Marine Petroleum Network Has a Dividend Yield of 1.60%; Will Trade Ex-Dividend on March 20, 2018
LONDON, UK / ACCESSWIRE / March 19, 2018 / Active-Investors has a free review on Aegean Marine Petroleum Network Inc. (NYSE: ANW) ("Aegean Marine") following the Company's announcement that it will begin trading ex-dividend on March 20, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on March 19, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on ANW:
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Dividend Declared
On March 07, 2018, the Company's Board of Directors declared a fourth quarter 2017 dividend of $0.01 per share payable on or about April 04, 2018, to shareholders of record as of March 21, 2018.
Aegean Marine's indicated dividend represents a yield of 1.60% compared to the average dividend yield of 2.00% for the Services sector.
Dividend Insight
Aegean Marine has a dividend payout ratio of 7.5%, which indicates that the Company spends approximately $0.8 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Aegean Marine is forecasted to report earnings of $0.47 for the next year, which is substantially higher than the Company's annualized dividend of $0.04 per share.
As of December 31, 2017, Aegean Marine had $438.3 million of undrawn amounts under its working capital facilities and $71.1 million of unrestricted cash and cash equivalents to finance working capital requirements, while its net debt was $52.1 million. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Recent Development for Aegean Marine
On February 20, 2018, Aegean Marine announced that it has entered into a definitive agreement to acquire all of the outstanding share capital of H.E.C. Europe Limited ("H.E.C."), the parent company of Hellenic Environmental Center S.A. and a group of companies that together provide global port reception facilities services (HEC Group), for aggregate consideration of approximately $367 million, including the assumption of certain indebtedness. The consideration is payable in the form of a combination of debt, the assignment of certain accounts receivables, cash and shares of Aegean Marine's common stock, which will represent approximately 33% of the issued and outstanding common stock of Aegean Marine after giving effect to the issuance.
The acquisition was unanimously approved by the Aegean Marine's Board upon the recommendation of a special committee of independent directors.
About Aegean Marine Petroleum Network Inc.
Aegean Marine is an international marine fuel logistics company that markets and physically supplies refined marine fuel and lubricants to ships in port and at sea. The Company procures product from various sources (such as refineries, oil producers, and traders) and resells it to a diverse group of customers across all major commercial shipping sectors and leading cruise lines.
Currently, Aegean Marine has a global presence in more than 30 markets.
Stock Performance Snapshot
March 16, 2018 - At Friday's closing bell, Aegean Marine's stock declined 2.04%, ending the trading session at $2.40.
Volume traded for the day: 838.44 thousand shares, which was above the 3-month average volume of 509.66 thousand shares.
After last Friday's close, Aegean Marine's market cap was at $99.60 million.
The stock has a dividend yield of 1.67%.
The stock is part of the Basic Materials sector, categorized under the Major Integrated Oil & Gas industry. This sector was up 0.8% at the end of the session.
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