SFL Corporation Ltd. (SFL) To Go Ex-Dividend on May 27th

SFL Corporation Ltd. (NYSE:SFL) announced a quarterly dividend on Tuesday, May 12th. Investors of record on Wednesday, May 27th will be paid a dividend of 0.22 per share by the shipping company on Monday, June 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend is Wednesday, May 27th. This is a 10.0% increase from SFL’s previous quarterly dividend of $0.20.

SFL has decreased its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. SFL has a payout ratio of 303.4% meaning 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 0.0%

Shares of SFL stock opened at $12.28 on Monday. The stock has a market capitalization of $1.78 billion, a P/E ratio of 51.19 and a beta of 0.42. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 1.84. The company has a 50-day simple moving average of $11.19 and a 200 day simple moving average of $9.62. SFL has a 12-month low of $6.73 and a 12-month high of $12.94.

SFL (NYSE:SFL) last announced its earnings results on Tuesday, May 12th. The shipping company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.13. The business had revenue of $174.48 million during the quarter, compared to analysts’ expectations of $170.77 million. SFL had a net margin of 4.37% and a return on equity of 0.26%. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.24) EPS.

Institutional Investors Weigh In On SFL

Hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its holdings in SFL by 789.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the shipping company’s stock worth $28,000 after acquiring an additional 2,944 shares during the last quarter. Triumph Capital Management bought a new position in shares of SFL in the 3rd quarter valued at about $32,000. NFSG Corp boosted its stake in shares of SFL by 50.0% in the 1st quarter. NFSG Corp now owns 4,500 shares of the shipping company’s stock valued at $49,000 after purchasing an additional 1,500 shares during the last quarter. Signaturefd LLC boosted its stake in shares of SFL by 30.5% in the 4th quarter. Signaturefd LLC now owns 6,008 shares of the shipping company’s stock valued at $47,000 after purchasing an additional 1,405 shares during the last quarter. Finally, Kemnay Advisory Services Inc. bought a new position in shares of SFL in the 4th quarter valued at about $47,000. Institutional investors own 28.59% of the company’s stock.

About SFL

Ship Finance International Limited (NYSE: SFL) is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.

In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.