I have several earnings reports I hope to get through this morning. Up first is Paragon Shipping PRGN whose Q1 earnings release is linked above. Cash flow and net income were up slightly for this dry bulk company and the results have been steady for the last several quarters.
Starting with the 4th quarter of 2008 Paragon slashed the dividend from 50¢ per quarter to a nickle. They are paying the 5¢ again for this distribution. PRGN stock jumped almost 25% yesterday on the good news. Now the board needs to start increasing the payout and shareholders will be well rewarded going forward.
Paragon Shipping has a nice 1st quarter
1Q09 Press Release.pdf (application/pdf Object).
I have several earnings reports I hope to get through this morning. Up first is Paragon Shipping PRGN whose Q1 earnings release is linked above. Cash flow and net income were up slightly for this dry bulk company and the results have been steady for the last several quarters.
Starting with the 4th quarter of 2008 Paragon slashed the dividend from 50¢ per quarter to a nickle. They are paying the 5¢ again for this distribution. PRGN stock jumped almost 25% yesterday on the good news. Now the board needs to start increasing the payout and shareholders will be well rewarded going forward.