Ship Finance International Limited (NYSE:SFL) announced a quarterly dividend on Tuesday, November 20th, Zacks reports. Stockholders of record on Wednesday, December 12th will be paid a dividend of 0.35 per share by the shipping company on Friday, December 28th. This represents a $1.40 annualized dividend and a dividend yield of 11.51%. The ex-dividend date is Tuesday, December 11th.

Ship Finance International has decreased its dividend payment by an average of 0.6% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Ship Finance International has a payout ratio of 126.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Ship Finance International to earn $1.25 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 112.0%.

Shares of SFL opened at $12.16 on Wednesday. The stock has a market capitalization of $1.48 billion, a P/E ratio of 10.22 and a beta of 1.21. Ship Finance International has a one year low of $11.50 and a one year high of $15.98. The company has a quick ratio of 0.49, a current ratio of 0.50 and a debt-to-equity ratio of 0.95.

Ship Finance International (NYSE:SFL) last issued its quarterly earnings results on Tuesday, November 20th. The shipping company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.09. The firm had revenue of $111.00 million during the quarter, compared to the consensus estimate of $114.96 million. Ship Finance International had a return on equity of 9.40% and a net margin of 23.55%. Ship Finance International’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.31 earnings per share. On average, research analysts anticipate that Ship Finance International will post 0.87 EPS for the current year.

SFL has been the subject of a number of analyst reports. Nordea Equity Research raised Ship Finance International from a “hold” rating to a “buy” rating in a report on Thursday, September 6th. Zacks Investment Research raised Ship Finance International from a “sell” rating to a “hold” rating in a report on Thursday, September 13th. ValuEngine cut Ship Finance International from a “hold” rating to a “sell” rating in a research note on Thursday, September 13th. Finally, TheStreet cut Ship Finance International from a “b” rating to a “c+” rating in a research note on Thursday, August 23rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.38.

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About Ship Finance International

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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