Flex LNG Ltd. (NYSE:FLNG) to Issue Quarterly Dividend of $0.75

Flex LNG Ltd. (NYSE:FLNG) announced a quarterly dividend on Tuesday, November 11th. Stockholders of record on Friday, November 28th will be paid a dividend of 0.75 per share on Thursday, December 11th. This represents a c) annualized dividend and a dividend yield of 12.0%. The ex-dividend date is Friday, November 28th.

Flex LNG has increased its dividend by an average of 1.1%annually over the last three years. Flex LNG has a dividend payout ratio of 137.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Flex LNG to earn $2.12 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 141.5%.

Flex LNG Stock Performance

FLNG stock opened at $25.01 on Thursday. The company has a quick ratio of 2.81, a current ratio of 2.84 and a debt-to-equity ratio of 2.23. The business’s fifty day simple moving average is $25.39 and its two-hundred day simple moving average is $24.65. Flex LNG has a twelve month low of $19.46 and a twelve month high of $27.67. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 13.59 and a beta of 0.49.

Flex LNG (NYSE:FLNG) last issued its earnings results on Tuesday, November 11th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). The company had revenue of $85.70 million for the quarter, compared to analysts’ expectations of $83.52 million. Flex LNG had a net margin of 27.84% and a return on equity of 14.41%. Analysts predict that Flex LNG will post 1.9 earnings per share for the current year.

Institutional Trading of Flex LNG

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Flex LNG by 145.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,030,250 shares of the company’s stock worth $23,686,000 after acquiring an additional 610,236 shares during the period. Gilman Hill Asset Management LLC increased its position in Flex LNG by 21.4% during the third quarter. Gilman Hill Asset Management LLC now owns 381,427 shares of the company’s stock worth $9,612,000 after purchasing an additional 67,139 shares during the last quarter. Geode Capital Management LLC raised its stake in Flex LNG by 5.3% during the second quarter. Geode Capital Management LLC now owns 380,414 shares of the company’s stock worth $8,361,000 after purchasing an additional 19,185 shares during the period. Dimensional Fund Advisors LP purchased a new position in Flex LNG during the third quarter worth approximately $9,497,000. Finally, Trek Financial LLC boosted its holdings in shares of Flex LNG by 5.1% in the 3rd quarter. Trek Financial LLC now owns 353,238 shares of the company’s stock valued at $8,902,000 after purchasing an additional 17,245 shares during the last quarter.

Flex LNG Company Profile

FLEX LNG Ltd. engages in the seaborne transportation of liquefied natural gas (LPG) through the ownership and operation of LNG carriers. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in September 2006 and is headquartered in Hamilton, Bermuda.