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

SFL Co. Ltd. (NYSE:SFL) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends 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 annualized dividend and a dividend yield of 10.21%. 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 203.8% indicating that 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 1.1 %

Shares of NYSE:SFL opened at $10.58 on Wednesday. The stock has a 50 day moving average of $10.85 and a 200 day moving average of $11.90. The company has a market cap of $1.47 billion, a PE ratio of 9.53 and a beta of 0.67. SFL has a 12-month low of $10.01 and a 12-month high of $14.62. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 1.93.

SFL (NYSE:SFL) last posted its quarterly earnings results on Wednesday, November 6th. The shipping company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The firm had revenue of $255.30 million during the quarter, compared to the consensus estimate of $243.98 million. SFL had a return on equity of 14.61% and a net margin of 16.03%. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 earnings per share.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Pareto Securities upgraded SFL from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Fearnley Fonds upgraded SFL from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st.

SFL Company Profile

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.