SFL Corporation Ltd. (NYSE:SFL) Announces $0.20 Quarterly Dividend

SFL Corporation Ltd. (NYSE:SFL) declared a quarterly dividend on Wednesday, February 11th. Shareholders of record on Thursday, March 12th will be paid a dividend of 0.20 per share by the shipping company on Monday, March 30th. This represents a c) dividend on an annualized basis and a yield of 8.0%. The ex-dividend date is Thursday, March 12th.

SFL has decreased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 1 years. SFL has a dividend payout ratio of 275.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

SFL Trading Up 9.7%

Shares of SFL stock opened at $10.01 on Thursday. SFL has a fifty-two week low of $6.73 and a fifty-two week high of $10.84. The stock has a market cap of $1.46 billion, a P/E ratio of -1,001.40 and a beta of 0.47. The business has a fifty day simple moving average of $8.29 and a 200-day simple moving average of $8.12. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 1.96.

SFL (NYSE:SFL) last issued its quarterly earnings data on Wednesday, February 11th. The shipping company reported ($0.04) earnings per share (EPS) for the quarter. The company had revenue of $175.51 million for the quarter, compared to analyst estimates of $168.36 million. SFL had a positive return on equity of 3.05% and a negative net margin of 0.20%.The company’s revenue for the quarter was down 23.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 earnings per share.

About SFL

Ship Finance International Limited (NYSE: SFL) is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.

In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.