SFL Corporation Ltd. Announces Quarterly Dividend of $0.22 (NYSE:SFL)

Key Points

• SFL declared a quarterly dividend of $0.22 per share, payable September 22 to shareholders of record September 9. The dividend implies an annualized yield of approximately 7.3%.
• The company’s dividend payout ratio is 303.4%, indicating that earnings alone currently do not cover the dividend and that SFL is relying on its balance sheet to fund payments.
• SFL exceeded quarterly expectations, reporting EPS of $0.25 versus the $0.14 consensus and revenue of $200.77 million versus estimates of $179.65 million; revenue increased 4.1% year over year.

SFL Corporation Ltd. (NYSE:SFL - Get Free Report) declared a quarterly dividend on Wednesday, August 26th. Stockholders of record on Wednesday, September 9th will be given a dividend of 0.22 per share by the shipping company on Tuesday, September 22nd. This represents a c) annualized dividend and a dividend yield of 7.3%. The ex-dividend date of this dividend is Wednesday, September 9th.

SFL has decreased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. SFL has a dividend payout ratio of 303.4% 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

Shares of NYSE:SFL traded down $0.23 during midday trading on Wednesday, reaching $11.99. 2,339,019 shares of the company's stock traded hands, compared to its average volume of 1,488,522. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 49.96 and a beta of 0.43. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.32 and a current ratio of 0.32. SFL has a one year low of $6.73 and a one year high of $12.94. The stock has a 50 day moving average of $11.53 and a 200 day moving average of $11.19.

SFL (NYSE:SFL - Get Free Report) last released its quarterly earnings data on Wednesday, August 26th. The shipping company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.14 by $0.11. SFL had a return on equity of 0.26% and a net margin of 4.37%.The company had revenue of $200.77 million for the quarter, compared to analysts' expectations of $179.65 million. During the same period last year, the firm posted $0.01 earnings per share. SFL's revenue was up 4.1% compared to the same quarter last year.

SFL Company Profile

Ship Finance International Limited NYSE: SFL is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.

In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.

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