Golden Ocean Group Limited (GOGL) to Issue Quarterly Dividend of $0.30 on December 18th

Golden Ocean Group Limited (NASDAQ:GOGL) declared a quarterly dividend on Wednesday, November 27th,NASDAQ Dividends reports. Stockholders of record on Monday, December 9th will be given a dividend of 0.30 per share by the shipping company on Wednesday, December 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 12.55%. The ex-dividend date of this dividend is Monday, December 9th.

Golden Ocean Group has increased its dividend payment by an average of 115.4% per year over the last three years. Golden Ocean Group has a dividend payout ratio of 83.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Golden Ocean Group to earn $1.52 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 78.9%.

Golden Ocean Group Trading Down 3.5 %

Shares of GOGL opened at $9.56 on Friday. Golden Ocean Group has a twelve month low of $8.42 and a twelve month high of $15.77. The company has a current ratio of 1.22, a quick ratio of 1.00 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $1.91 billion, a P/E ratio of 7.90 and a beta of 1.16. The firm’s 50-day moving average is $11.38 and its two-hundred day moving average is $12.34.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GOGL. StockNews.com downgraded Golden Ocean Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th. Jefferies Financial Group dropped their price target on Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. Finally, Pareto Securities reaffirmed a “hold” rating and set a $12.50 price target on shares of Golden Ocean Group in a research note on Thursday, November 21st.

About Golden Ocean Group

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels worldwide. The company’s dry bulk vessels comprise Newcastlemax, Capesize, and Panamax vessels operating in the spot and time charter markets. It also transports a range of bulk commodities, including ores, coal, grains, and fertilizers.