International Seaways Inc. (NYSE:INSW) Announces Dividend Increase - $5.05 Per Share

Key Points

• International Seaways declared a quarterly dividend of $5.05 per share, payable September 24 to shareholders of record September 10. The payment represents a 4,108.3% increase from the previous $0.12 dividend and a stated yield of 22.5%.
• The tanker company reported quarterly EPS of $5.91, beating estimates of $5.43, while revenue rose 138.9% year over year to $467.29 million.
• INSW shares fell 2.7% to $89.90 in Monday trading, despite strong results; the company has a $4.45 billion market capitalization and analysts expect full-year EPS of $15.62.

International Seaways Inc. (NYSE:INSW - Get Free Report) declared a quarterly dividend on Monday, August 10th. Stockholders of record on Thursday, September 10th will be given a dividend of 5.05 per share by the transportation company on Thursday, September 24th. This represents a c) dividend on an annualized basis and a dividend yield of 22.5%. The ex-dividend date is Thursday, September 10th. This is a 4,108.3% increase from International Seaways's previous quarterly dividend of $0.12.

International Seaways has raised its dividend payment by an average of 0.6%annually over the last three years. International Seaways has a dividend payout ratio of 8.3% meaning its dividend is sufficiently covered by earnings. Analysts expect International Seaways to earn $9.10 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 5.3%.

International Seaways Stock Down 2.7%

Shares of INSW stock traded down $2.51 on Monday, hitting $89.90. The stock had a trading volume of 816,680 shares, compared to its average volume of 578,267. The stock's 50 day moving average is $85.93 and its 200-day moving average is $77.30. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 8.19 and a beta of -0.13. International Seaways has a 52-week low of $41.20 and a 52-week high of $98.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.28 and a current ratio of 7.34.

International Seaways (NYSE:INSW - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.43 by $0.48. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The firm had revenue of $467.29 million for the quarter, compared to the consensus estimate of $403.24 million. During the same quarter in the previous year, the firm posted $1.02 EPS. The firm's quarterly revenue was up 138.9% on a year-over-year basis. As a group, research analysts expect that International Seaways will post 15.62 earnings per share for the current year.

International Seaways Company Profile

International Seaways, Inc NYSE: INSW is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.

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