Frontline PLC (NYSE:FRO) to Issue Quarterly Dividend of $2.61

Frontline PLC (NYSE:FRO) declared a quarterly dividend on Thursday, August 27th. Investors of record on Friday, September 18th will be given a dividend of 2.61 per share by the shipping company on Monday, September 28th. This represents a c) dividend on an annualized basis and a dividend yield of 23.7%. The ex-dividend date is Friday, September 18th. This is a 68.4% increase from Frontline’s previous quarterly dividend of $1.55.

Frontline has decreased its dividend by an average of 0.1%annually over the last three years. Frontline has a payout ratio of 206.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Frontline Trading Up 0.6%

NYSE:FRO traded up $0.27 during mid-day trading on Friday, hitting $44.02. 3,310,838 shares of the stock traded hands, compared to its average volume of 3,248,231. The stock has a market capitalization of $9.80 billion, a price-to-earnings ratio of 10.84 and a beta of 0.02. Frontline has a 52 week low of $20.31 and a 52 week high of $45.29. The firm’s 50 day moving average is $39.25 and its two-hundred day moving average is $36.72. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.83.

Frontline Company Profile

Frontline Ltd. (NYSE:FRO) is a leading global shipping company specializing in the seaborne transportation of crude oil and petroleum products. The company’s core business activities encompass the ownership and operation of very large crude carriers (VLCCs), Suezmax tankers and Aframax vessels. Through long-term charters, spot market operations and time charters, Frontline provides flexible shipping solutions that cater to a diverse set of energy producers, refiners and trading houses worldwide.

Frontline’s fleet is geared toward high-capacity, ocean-going tankers capable of carrying large volumes of crude oil over intercontinental distances.