SFL Co. Ltd. (SFL) To Go Ex-Dividend on March 12th

SFL Co. Ltd. (NYSE:SFL) announced a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Shareholders of record on Wednesday, March 12th will be given a dividend of 0.27 per share by the shipping company on Friday, March 28th. This represents a $1.08 dividend on an annualized basis and a yield of 10.99%. The ex-dividend date of this dividend is Wednesday, March 12th.

SFL has raised its dividend payment by an average of 19.3% per year over the last three years. SFL has a payout ratio of 140.3% 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 5.3 %

NYSE:SFL opened at $9.83 on Friday. The firm has a market cap of $1.36 billion, a P/E ratio of 8.85 and a beta of 0.66. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.50 and a current ratio of 0.50. SFL has a fifty-two week low of $9.64 and a fifty-two week high of $14.62. The firm has a 50-day simple moving average of $10.46 and a two-hundred day simple moving average of $10.91.

Analysts Set New Price Targets

SFL has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of SFL from a “hold” rating to a “sell” rating in a report on Thursday. Fearnley Fonds raised shares of SFL from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st.

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.