Navios Partners dividend arrives quicker than expected

A reintroduction of dividend payments at Navios Maritime Partners has arrived faster than analysts were expecting.

The New York-listed shipowner yesterday announced a new distribution of $0.08 per common unit at the same time as revealing a bulker buy.

Noah Parquette of JP Morgan says the payments, which will start in May, had been anticipated to return at the end of the third quarter of 2018.

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With 40 vessels now to its name, including over 30 bulkers, improved payouts are projected in the coming years.

Navios Partners has paid $19.95m for a 2005-built panamax, it announced yesterday, without identifying the vessel.

“Along with the equity offering in February, we believe management will continue to focus on fleet renewal and acquisitions in the near term,” Parquette said.

Navios Partners has joined Scorpio Bulkers, Golden Ocean and Songa Bulk as among the leading names paying dividends in the dry cargo market.