International Seaways Inc. (NYSE:INSW) Declares $0.12 Quarterly Dividend

Key Points

• International Seaways Inc. has announced a quarterly dividend of $0.12 per share, with an annualized dividend yield of 1.1%, set to be paid on September 24th to shareholders of record by September 10th.
• The company reported earnings of $1.02 per share for the last quarter, exceeding analysts' expectations, although revenue decreased by 24% compared to the same period last year.
• International Seaways has a low payout ratio of 8.3%, indicating that its dividend is well-supported by earnings and analysts predict future earnings growth.

International Seaways Inc. (NYSE:INSW - Get Free Report) announced a quarterly dividend on Thursday, August 7th, Wall Street Journal reports. Investors of record on Wednesday, September 10th will be paid a dividend of 0.12 per share by the transportation company on Wednesday, September 24th. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 10th.

International Seaways has a payout ratio of 8.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect International Seaways to earn $4.65 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 10.3%.

International Seaways Trading Down 2.3%

INSW traded down $0.99 during trading hours on Monday, reaching $41.87. The company's stock had a trading volume of 691,135 shares, compared to its average volume of 597,757. The stock has a market cap of $2.07 billion, a PE ratio of 8.71 and a beta of 0.05. International Seaways has a fifty-two week low of $27.20 and a fifty-two week high of $54.84. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The business's 50-day moving average is $39.45 and its 200-day moving average is $36.81.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The transportation company reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.11. International Seaways had a net margin of 29.88% and a return on equity of 11.35%. The company had revenue of $188.82 million for the quarter, compared to the consensus estimate of $199.06 million. During the same period in the prior year, the firm posted $2.37 EPS. The company's quarterly revenue was down 24.0% compared to the same quarter last year. As a group, equities research analysts predict that International Seaways will post 7.77 earnings per share for the current fiscal year.

About International Seaways

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.