Torm Plc (TRMD) to Issue Quarterly Dividend of $2.40 on September 24th

Torm Plc (NASDAQ:TRMD) announced a quarterly dividend on Wednesday, August 26th. Shareholders of record on Thursday, September 10th will be given a dividend of 2.40 per share on Thursday, September 24th. This represents a c) dividend on an annualized basis and a yield of 30.2%. The ex-dividend date is Thursday, September 10th. This is a 242.9% increase from Torm’s previous quarterly dividend of $0.70.

Torm has increased its dividend payment by an average of 0.1%annually over the last three years. Torm has a payout ratio of 78.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

Torm Stock Up 5.7%

NASDAQ TRMD opened at $31.80 on Friday. The stock has a 50 day moving average price of $29.33 and a 200-day moving average price of $29.22. Torm has a one year low of $19.30 and a one year high of $35.33. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 1.40. The company has a market capitalization of $3.24 billion, a P/E ratio of 5.24 and a beta of 0.09.

Torm (NASDAQ:TRMD) last announced its quarterly earnings results on Wednesday, August 26th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.31 by ($0.06). The business had revenue of $662.80 million during the quarter, compared to the consensus estimate of $499.01 million. Torm had a return on equity of 28.29% and a net margin of 35.51%.

Torm Company Profile

Torm A/S (NASDAQ: TRMD) is an international shipping company specializing in the transportation of refined petroleum products. The firm owns and operates a modern fleet of product tankers, including both Handysize and MR vessels, which are designed to carry a broad range of clean petroleum cargoes such as gasoline, jet fuel and diesel. Torm’s core business revolves around voyage and time-charter contracts with major oil companies, trading houses and other energy sector clients around the world.

The company’s fleet is deployed on global trade routes, with particular focus on major refining and consumption regions in Europe, North America and Asia.