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

Flex LNG Ltd. (NYSE:FLNGGet Free Report) announced a quarterly dividend on Tuesday, August 18th. Shareholders of record on Thursday, September 3rd will be paid a dividend of 0.75 per share on Thursday, September 17th. This represents a c) annualized dividend and a yield of 9.3%. The ex-dividend date of this dividend is Thursday, September 3rd.

Flex LNG has raised its dividend by an average of 0.8%per year over the last three years. Flex LNG has a 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.

Flex LNG Price Performance

Shares of FLNG stock opened at $32.35 on Thursday. Flex LNG has a fifty-two week low of $24.00 and a fifty-two week high of $33.40. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 23.11 and a beta of 0.20. The company has a debt-to-equity ratio of 2.45, a quick ratio of 2.69 and a current ratio of 2.72. The stock’s 50-day simple moving average is $30.37 and its 200-day simple moving average is $29.98.

Flex LNG (NYSE:FLNGGet Free Report) last posted its quarterly earnings data on Wednesday, August 19th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.17. The firm had revenue of $106.80 million for the quarter, compared to the consensus estimate of $93.53 million. Flex LNG had a net margin of 22.26% and a return on equity of 12.15%.

Flex LNG Company Profile

(Get Free Report)

Flex LNG Ltd is a Bermuda-registered owner and operator of liquefied natural gas (LNG) carriers, offering shipping services to major energy producers and utilities worldwide. Since its establishment in 2006, the company has focused on building a versatile fleet of modern, eco-efficient LNG vessels designed to meet the growing global demand for lower-emission fuel transportation.

The company’s core activities encompass time-charter contracts, long-term transportation agreements and spot market voyages.

Further Reading

Dividend History for Flex LNG (NYSE:FLNG)

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