Torm Plc (NASDAQ:TRMD) to Issue Dividend Increase – $2.40 Per Share

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) annualized dividend and a yield of 31.9%. The ex-dividend date of this dividend 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%per year over the last three years. Torm has a payout ratio of 78.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

Torm Stock Performance

Shares of TRMD stock opened at $30.08 on Thursday. Torm has a 52 week low of $19.30 and a 52 week 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 firm’s 50-day simple moving average is $29.29 and its two-hundred day simple moving average is $29.17. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 8.85 and a beta of 0.09.

Torm (NASDAQ:TRMD) last issued its earnings results on Wednesday, August 26th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.06). Torm had a return on equity of 15.81% and a net margin of 24.45%.The business had revenue of $662.80 million for the quarter, compared to the consensus estimate of $499.01 million.

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.