SFL Co. Ltd. (NYSE:SFL) Announces $0.27 Quarterly Dividend

SFL Co. Ltd. (NYSE:SFL) announced a quarterly dividend on Wednesday, November 6th, Zacks reports. Stockholders of record on Friday, December 13th will be given a dividend of 0.27 per share by the shipping company on Friday, December 27th. This represents a $1.08 annualized dividend and a dividend yield of 10.08%. The ex-dividend date of this dividend is Friday, December 13th.

SFL has decreased its dividend payment by an average of 1.0% per year over the last three years. SFL has a dividend payout ratio of 112.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

SFL Stock Performance

SFL traded up $0.27 on Thursday, hitting $10.71. 36,356 shares of the company traded hands, compared to its average volume of 828,800. The company has a 50 day moving average of $11.24 and a 200-day moving average of $12.46. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $1.48 billion, a PE ratio of 10.43 and a beta of 0.68. SFL has a 12-month low of $10.27 and a 12-month high of $14.62.

SFL (NYSE:SFL) last posted its quarterly earnings data on Wednesday, August 14th. The shipping company reported $0.16 EPS for the quarter. SFL had a return on equity of 12.58% and a net margin of 15.17%. The firm had revenue of $190.90 million during the quarter, compared to the consensus estimate of $184.17 million. During the same period in the prior year, the business earned $0.13 EPS. The firm’s revenue was up 16.1% compared to the same quarter last year.

Analysts Set New Price Targets

Several equities analysts have issued reports on SFL shares. Pareto Securities upgraded SFL from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. StockNews.com upgraded SFL from a “hold” rating to a “buy” rating in a research report on Tuesday, July 16th.

SFL Company Profile

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.