Star Bulk Carriers (SBLK - Free Report) declared that it has recently ended the previously announced buyback of 10 million of its common shares from Oaktree shareholders (also called December Share Repurchase).
Owing to the completion of December Share Repurchase, the collective ownership of Oaktree Dry Bulk Holding LLC and its affiliated funds in SBLK was reduced from approximately 17.1% of the company’s outstanding shares to 7.2%. Additionally, the agreement had also brought about other related changes.
This apart, SBLK rewarded its shareholders by paying quarterly dividends of 22 cents per share (annualized $1.60), giving a 7.31% yield at the current stock price. SBLK’s payout ratio was 77%, with a five-year dividend growth rate of 173.93%. (Check SBLK’s dividend history here).
Zacks Rank & Key Picks
SBLK currently carries a Zacks Rank #3 (Hold).
A couple of better-ranked stocks for investors interested in the Zacks Transportation sector are Air Canada (ACDVF - Free Report) and SkyWest (SKYW - Free Report) .
Air Canada currently sports a Zacks Rank #1 (Strong Buy). An uptick in passenger traffic is aiding ACDVF. Recently, management announced its plans to launch a new year-round route between Montreal and Madrid. You can see the complete list of today’s Zacks #1 Rank stocks here.
The service will commence in May of the following year as part of the company's expanded international summer 2024 flying schedule to cater to the increased demand.
SkyWest currently carries a Zacks Rank #2 (Buy). SKYW's fleet-modernization efforts are commendable. Initiatives to reward its shareholders also bode well. The Zacks Consensus Estimate for current-quarter earnings has surged 83.3% in the past 60 days.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
Star Bulk Carriers (SBLK - Free Report) declared that it has recently ended the previously announced buyback of 10 million of its common shares from Oaktree shareholders (also called December Share Repurchase).
Owing to the completion of December Share Repurchase, the collective ownership of Oaktree Dry Bulk Holding LLC and its affiliated funds in SBLK was reduced from approximately 17.1% of the company’s outstanding shares to 7.2%. Additionally, the agreement had also brought about other related changes.
This apart, SBLK rewarded its shareholders by paying quarterly dividends of 22 cents per share (annualized $1.60), giving a 7.31% yield at the current stock price. SBLK’s payout ratio was 77%, with a five-year dividend growth rate of 173.93%. (Check SBLK’s dividend history here).
Zacks Rank & Key Picks
SBLK currently carries a Zacks Rank #3 (Hold).
A couple of better-ranked stocks for investors interested in the Zacks Transportation sector are Air Canada (ACDVF - Free Report) and SkyWest (SKYW - Free Report) .
Air Canada currently sports a Zacks Rank #1 (Strong Buy). An uptick in passenger traffic is aiding ACDVF. Recently, management announced its plans to launch a new year-round route between Montreal and Madrid. You can see the complete list of today’s Zacks #1 Rank stocks here.
The service will commence in May of the following year as part of the company's expanded international summer 2024 flying schedule to cater to the increased demand.
SkyWest currently carries a Zacks Rank #2 (Buy). SKYW's fleet-modernization efforts are commendable. Initiatives to reward its shareholders also bode well. The Zacks Consensus Estimate for current-quarter earnings has surged 83.3% in the past 60 days.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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