Published on 22 Feb 2024 on Simply Wall St. via Yahoo Finance

Here's What We Like About Danaos' (NYSE:DAC) Upcoming Dividend

Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Danaos Corporation (NYSE:DAC) is about to trade ex-dividend in the next four days. The ex-dividend date is usually set to be one business day before the record date which is the cut-off date on which you must be present on the company's books as a shareholder in order to receive the dividend. The ex-dividend date is of consequence because whenever a stock is bought or sold, the trade takes at least two business day to settle. This means that investors who purchase Danaos' shares on or after the 27th of February will not receive the dividend, which will be paid on the 14th of March.

The company's next dividend payment will be US$0.80 per share, and in the last 12 months, the company paid a total of US$3.20 per share. Last year's total dividend payments show that Danaos has a trailing yield of 4.4% on the current share price of US$72.28. Dividends are a major contributor to investment returns for long term holders, but only if the dividend continues to be paid. So we need to investigate whether Danaos can afford its dividend, and if the dividend could grow.

View our latest analysis for Danaos