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

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. Stockholders of record on Wednesday, September 10th will be given a dividend of 0.12 per share by the transportation company on Wednesday, September 24th. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, September 10th.

International Seaways has a payout ratio of 8.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

NYSE:INSW traded down $0.29 during trading hours on Friday, reaching $42.79. 1,343,661 shares of the company were exchanged, compared to its average volume of 560,389. The company has a current ratio of 0.95, a quick ratio of 2.75 and a debt-to-equity ratio of 0.14. The stock's 50-day moving average is $39.35 and its 200-day moving average is $36.76. The firm has a market cap of $2.11 billion, a PE ratio of 8.90 and a beta of 0.05. International Seaways has a twelve month low of $27.20 and a twelve month high of $54.84.

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

International Seaways Company Profile

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.