SFL Co. Ltd. Plans Quarterly Dividend of $0.27 (NYSE:SFL)

SFL Co. Ltd. (NYSE:SFL) announced a quarterly dividend on Thursday, February 13th,Wall Street Journal reports. Shareholders of record on Wednesday, March 12th will be paid a dividend of 0.27 per share by the shipping company on Friday, March 28th. This represents a $1.08 dividend on an annualized basis and a yield of 10.99%. The ex-dividend date of this dividend is Wednesday, March 12th.

SFL has increased its dividend by an average of 19.3% per year over the last three years. SFL has a payout ratio of 140.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

SFL Stock Performance

SFL stock traded down $0.55 during midday trading on Thursday, reaching $9.83. 2,373,843 shares of the company’s stock traded hands, compared to its average volume of 819,170. The firm has a market capitalization of $1.36 billion, a PE ratio of 8.85 and a beta of 0.66. SFL has a 52 week low of $9.64 and a 52 week high of $14.62. The company has a 50-day moving average price of $10.47 and a two-hundred day moving average price of $10.92. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.50 and a current ratio of 0.50.

Analyst Upgrades and Downgrades

Separately, Fearnley Fonds raised shares of SFL from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st.

SFL Company Profile

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.