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

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 dividend on an annualized basis and a dividend yield of 10.35%. The ex-dividend date is Friday, December 13th.

SFL has decreased its dividend payment by an average of 1.0% annually over the last three years. SFL has a 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 Down 0.1 %

SFL stock opened at $10.43 on Thursday. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.34 and a quick ratio of 0.34. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 10.45 and a beta of 0.68. SFL has a 1-year low of $10.27 and a 1-year high of $14.62. The business has a fifty day moving average price of $11.24 and a 200-day moving average price of $12.46.

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Pareto Securities upgraded SFL from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. StockNews.com upgraded SFL from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th.

About SFL

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.