TORM plc (NASDAQ:TRMD) Increases Dividend to $1.50 Per Share

TORM plc (NASDAQ:TRMD) declared a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Shareholders of record on Wednesday, May 22nd will be given a dividend of 1.50 per share on Tuesday, June 4th. This represents a $6.00 annualized dividend and a yield of 16.52%. The ex-dividend date is Tuesday, May 21st. This is a positive change from TORM’s previous quarterly dividend of $1.36.

TORM has increased its dividend by an average of 102.0% annually over the last three years. TORM has a payout ratio of 81.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.

TORM Stock Performance

TORM stock traded up $0.51 during midday trading on Thursday, reaching $36.31. 872,403 shares of the company traded hands, compared to its average volume of 657,863. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.60 and a quick ratio of 2.37. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 4.86 and a beta of 0.16. The business has a 50 day moving average of $34.23 and a two-hundred day moving average of $32.69. TORM has a 12 month low of $22.31 and a 12 month high of $37.11.

TORM (NASDAQ:TRMD) last issued its quarterly earnings results on Thursday, March 7th. The company reported $1.56 earnings per share for the quarter. The business had revenue of $387.78 million for the quarter. TORM had a net margin of 42.64% and a return on equity of 36.99%.

About TORM

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.