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

SFL Co. Ltd. (NYSE:SFL) announced a quarterly dividend on Wednesday, November 6th, Zacks reports. Investors of record on Friday, December 13th will be given a dividend of 0.27 per share by the shipping company on Friday, December 27th. This represents a $1.08 dividend on an annualized basis and a yield of 10.08%. The ex-dividend date is Friday, December 13th.

SFL has decreased its dividend payment by an average of 1.0% per year over the last three years. SFL has a dividend payout ratio of 112.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

SFL Price Performance

SFL stock traded up $0.27 on Thursday, reaching $10.71. The company had a trading volume of 36,356 shares, compared to its average volume of 828,800. SFL has a 1 year low of $10.27 and a 1 year high of $14.62. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.34 and a current ratio of 0.34. The company’s fifty day moving average is $11.24 and its 200 day moving average is $12.46. The company has a market cap of $1.48 billion, a P/E ratio of 10.43 and a beta of 0.68.

SFL (NYSE:SFL) last posted its earnings results on Wednesday, August 14th. The shipping company reported $0.16 earnings per share (EPS) for the quarter. SFL had a return on equity of 12.58% and a net margin of 15.17%. The firm had revenue of $190.90 million for the quarter, compared to analyst estimates of $184.17 million. During the same quarter in the prior year, the company earned $0.13 EPS. SFL’s revenue was up 16.1% on a year-over-year basis.

Wall Street Analyst Weigh In

SFL has been the topic of a number of recent analyst reports. Pareto Securities raised SFL from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. StockNews.com raised SFL from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th.

About SFL

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.