Ship Finance International Limited (NYSE:SFL) announced a quarterly dividend on Wednesday, August 22nd, Zacks reports. Shareholders of record on Friday, September 14th will be paid a dividend of 0.35 per share by the shipping company on Thursday, September 27th. This represents a $1.40 dividend on an annualized basis and a yield of 10.11%. The ex-dividend date is Thursday, September 13th.

Ship Finance International has decreased its dividend by an average of 0.6% per year over the last three years and has raised its dividend every year for the last 6 years. Ship Finance International has a dividend payout ratio of 126.1% 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 to earn $1.34 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 104.5%.

SFL stock traded down $0.25 during trading on Friday, reaching $13.85. The company’s stock had a trading volume of 1,461,152 shares, compared to its average volume of 738,420. Ship Finance International has a 1 year low of $13.15 and a 1 year high of $15.98. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.66 and a current ratio of 0.50. The firm has a market capitalization of $1.73 billion, a PE ratio of 11.64 and a beta of 1.20.

Ship Finance International (NYSE:SFL) last issued its quarterly earnings results on Wednesday, August 22nd. The shipping company reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.10. Ship Finance International had a return on equity of 9.40% and a net margin of 23.55%. The business had revenue of $96.80 million during the quarter, compared to analyst estimates of $101.65 million. During the same quarter in the prior year, the business posted $0.35 EPS. sell-side analysts forecast that Ship Finance International will post 1.11 EPS for the current fiscal year.

A number of equities research analysts have issued reports on SFL shares. Zacks Investment Research lowered Ship Finance International from a “strong-buy” rating to a “sell” rating in a research note on Tuesday, August 7th. Nordea Equity Research upgraded Ship Finance International from a “hold” rating to a “buy” rating in a research report on Thursday. Seaport Global Securities upgraded Ship Finance International from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Friday, June 1st. Finally, TheStreet lowered Ship Finance International from a “b” rating to a “c+” rating in a research report on Thursday, August 23rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Ship Finance International currently has an average rating of “Hold” and an average target price of $16.13.

Ship Finance International Company Profile

Ship Finance International Limited owns and operates vessels and offshore related assets primarily in Bermuda, Cyprus, Malta, Liberia, Norway, the United Kingdom, and the Marshall Islands. It is also involved in the charter, purchase, and sale of assets. In addition, the company operates in various sectors of the shipping and offshore industry, including oil transportation, dry bulk shipments, chemical transportation, oil product transportation, container transportation, car transportation, drilling rigs, and offshore supply vessels.

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Dividend History for Ship Finance International (NYSE:SFL)

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