TORM plc (NASDAQ:TRMD) Announces $0.88 Quarterly Dividend

TORM plc (NASDAQ:TRMD) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders of record on Thursday, November 21st will be paid a dividend of 0.876 per share on Wednesday, December 4th. This represents a $3.50 annualized dividend and a yield of 14.21%. The ex-dividend date of this dividend is Thursday, November 21st.

TORM has raised its dividend by an average of 102.0% annually over the last three years. TORM has a dividend payout ratio of 130.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect TORM to earn $5.03 per share next year, which means the company may not be able to cover its $7.20 annual dividend with an expected future payout ratio of 143.1%.

TORM Price Performance

Shares of NASDAQ:TRMD opened at $24.66 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.94 and a current ratio of 3.18. The business has a fifty day moving average of $31.73 and a two-hundred day moving average of $35.14. TORM has a 52-week low of $24.06 and a 52-week high of $40.47.

TORM (NASDAQ:TRMD) last issued its earnings results on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.03. TORM had a return on equity of 36.06% and a net margin of 43.81%. The company had revenue of $437.70 million during the quarter, compared to analysts’ expectations of $325.38 million. During the same period in the prior year, the business earned $2.14 EPS. As a group, sell-side analysts predict that TORM will post 7.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on TRMD shares. Evercore ISI upped their price target on TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Fearnley Fonds raised TORM to a “hold” rating in a research note on Friday, September 27th.

About TORM

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.