Euroseas Shares Rise Ahead of Ex-Dividend Date
Euroseas Ltd. (NASDAQ:ESEA) shares rose 4.1% in pre-market trading to $80.01, surpassing their previous 52-week high ahead of the company's ex-dividend date on September 9. The shipping firm declared a quarterly cash dividend of $0.80 per share. The stock gained momentum following strong second-quarter results released on August 13. Adjusted earnings per share reached $4.70, exceeding Wall Street’s estimate of around $4.24. Net income increased to $33.2 million from $29.9 million in the same period last year. Despite a broader decline in U.S. equity benchmarks—S&P 500 down 0.6%, Dow Jones -0.7%, and Nasdaq -1.1%—Euroseas shares advanced, supported by positive earnings results and an ongoing share repurchase program that has reduced outstanding shares by approximately 6.8% since May 2022.
Tickers: $ESEA