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

SFL Co. Ltd. (NYSE:SFL) declared a quarterly dividend on Thursday, May 15th, Wall Street Journal reports. Stockholders of record on Thursday, June 12th will be paid a dividend of 0.27 per share by the shipping company on Friday, June 27th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 12.41%. The ex-dividend date is Thursday, June 12th.

SFL has increased its dividend by an average of 19.3% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. SFL has a payout ratio of 337.5% 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 Performance

Shares of SFL stock opened at $8.70 on Friday. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.38 and a quick ratio of 0.50. SFL has a 1 year low of $6.78 and a 1 year high of $14.62. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 8.61 and a beta of 0.47. The business has a fifty day moving average of $8.06 and a 200 day moving average of $9.49.

SFL (NYSE:SFL) last posted its earnings results on Wednesday, May 14th. The shipping company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.04. SFL had a return on equity of 12.41% and a net margin of 14.45%. The firm had revenue of $186.74 million for the quarter, compared to analyst estimates of $183.82 million.

Institutional Trading of SFL

A hedge fund recently raised its stake in SFL stock. AQR Capital Management LLC increased its stake in shares of SFL Co. Ltd. (NYSE:SFL) by 52.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,060 shares of the shipping company’s stock after buying an additional 7,273 shares during the quarter. AQR Capital Management LLC’s holdings in SFL were worth $173,000 at the end of the most recent reporting period. 28.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com lowered SFL from a “hold” rating to a “sell” rating in a report on Thursday, February 13th.

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.