TORM plc (NASDAQ:TRMD) to Issue $0.60 Quarterly Dividend

TORM plc (NASDAQ:TRMDGet Free Report) declared a quarterly dividend on Thursday, March 6th, Wall Street Journal reports. Shareholders of record on Thursday, March 20th will be paid a dividend of 0.60 per share on Wednesday, April 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 12.50%. The ex-dividend date of this dividend is Thursday, March 20th.

TORM has a dividend payout ratio of 77.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect TORM to earn $3.58 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 67.0%.

TORM Stock Up 5.0 %

NASDAQ TRMD opened at $19.20 on Tuesday. TORM has a 52 week low of $16.76 and a 52 week high of $40.47. The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51. The business’s fifty day simple moving average is $19.58 and its 200-day simple moving average is $24.09. The firm has a market cap of $1.80 billion, a PE ratio of 2.48 and a beta of 0.14.

TORM Company Profile

(Get Free Report)

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.

Further Reading

Dividend History for TORM (NASDAQ:TRMD)

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