Ship Finance International Limited Announces Quarterly Dividend of $0.35 (SFL)
Ship Finance International Limited (NYSE:SFL) announced a quarterly dividend on Wednesday, November 22nd, NASDAQ reports. Investors of record on Monday, December 11th will be given a dividend of 0.35 per share by the shipping company on Friday, December 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.21%. The ex-dividend date of this dividend is Friday, December 8th.
Ship Finance International Limited has increased its dividend by an average of 15.4% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Ship Finance International Limited has a payout ratio of 114.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Ship Finance International Limited to earn $1.14 per share next year, which means the company may not be able to cover its $1.40 annual dividend with an expected future payout ratio of 122.8%.
Shares of Ship Finance International Limited (NYSE:SFL) opened at $15.20 on Thursday. Ship Finance International Limited has a 12 month low of $12.30 and a 12 month high of $16.10. The firm has a market capitalization of $1,540.00, a P/E ratio of 10.91 and a beta of 1.40.
Ship Finance International Limited (NYSE:SFL) last posted its quarterly earnings results on Wednesday, November 22nd. The shipping company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.04. Ship Finance International Limited had a return on equity of 11.26% and a net margin of 29.59%. analysts forecast that Ship Finance International Limited will post 1.22 EPS for the current fiscal year.
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Several equities analysts recently issued reports on SFL shares. Zacks Investment Research cut Ship Finance International Limited from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. Clarkson Capital raised Ship Finance International Limited from a “neutral” rating to a “buy” rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Ship Finance International Limited has a consensus rating of “Hold” and an average target price of $16.00.
About Ship Finance International Limited
Ship Finance International Limited is a holding, and international ship owning and chartering company. The Company is engaged in the ownership and operation of vessels and offshore related assets, and also involved in the charter, purchase and sale of assets. Its assets consist of approximately 20 oil tankers, over 20 dry bulk carriers, approximately 20 container vessels, including a newbuilding, two car carriers, two jack-up drilling rigs, two ultra-deepwater drilling units, five offshore supply vessels, two chemical tankers and two newbuilding oil product tankers.
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