ESEA - Euroseas: Investors Cheer Surprise Dividend And Share Buyback Announcement - Buy

• Company reports Q1 results largely in line with expectations.
• Dividend reinstatement after almost a decade and a $20 million share repurchase authorization surprised market participants.
• Last week, the company managed to secure attractive long-term charters for two newbuild vessels scheduled for delivery in H1/2023.
• With $340 million in contracted EBITDA between Q2/2022 and the end of 2024, the dividend appears safe for the foreseeable future.
• Get long Euroseas due to discounted valuation, respectable dividend yield and the industry's strong short- and medium-term outlook.

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