SFL Corporation Ltd. Declares Quarterly Dividend of $0.20 (NYSE:SFL)

Key Points

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SFL Corporation Ltd. (NYSE:SFL - Get Free Report) announced a quarterly dividend on Tuesday, August 19th, RTT News reports. Investors of record on Friday, September 12th will be paid a dividend of 0.20 per share by the shipping company on Monday, September 29th. This represents a c) annualized dividend and a yield of 9.6%. The ex-dividend date is Friday, September 12th.

SFL has a payout ratio of 372.4% 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

NYSE SFL traded up $0.0950 during trading hours on Friday, hitting $8.2950. 1,705,191 shares of the company's stock traded hands, compared to its average volume of 1,656,287. The business's fifty day moving average price is $8.93 and its two-hundred day moving average price is $8.68. The company has a current ratio of 0.30, a quick ratio of 0.45 and a debt-to-equity ratio of 1.97. The firm has a market capitalization of $1.21 billion, a P/E ratio of 31.90 and a beta of 0.56. SFL has a 52 week low of $6.78 and a 52 week high of $11.93.

SFL (NYSE:SFL - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The shipping company reported $0.01 earnings per share for the quarter. The business had revenue of $192.59 million during the quarter, compared to analyst estimates of $192.40 million. SFL had a net margin of 3.97% and a return on equity of 6.67%. The company's revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 earnings per share.

Hedge Funds Weigh In On SFL

A number of hedge funds have recently modified their holdings of SFL. Signaturefd LLC boosted its position in shares of SFL by 65.3% in the second quarter. Signaturefd LLC now owns 3,392 shares of the shipping company's stock worth $28,000 after purchasing an additional 1,340 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of SFL by 789.3% in the second quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the shipping company's stock worth $28,000 after purchasing an additional 2,944 shares during the period. Quarry LP lifted its holdings in shares of SFL by 183.6% in the first quarter. Quarry LP now owns 3,706 shares of the shipping company's stock worth $30,000 after buying an additional 2,399 shares in the last quarter. Sterling Capital Management LLC grew its stake in SFL by 883.5% during the fourth quarter. Sterling Capital Management LLC now owns 3,275 shares of the shipping company's stock valued at $33,000 after acquiring an additional 2,942 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in SFL by 636.8% in the 1st quarter. GAMMA Investing LLC now owns 4,723 shares of the shipping company's stock valued at $39,000 after acquiring an additional 4,082 shares during the last quarter. 28.59% of the stock is currently owned by institutional investors.

SFL Company Profile

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.