TORM plc (NASDAQ:TRMD – Get Free Report) declared a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Investors of record on Wednesday, May 22nd will be paid a dividend of 1.50 per share on Tuesday, June 4th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 16.52%. The ex-dividend date is Tuesday, May 21st. This is an increase from TORM’s previous quarterly dividend of $1.36.
TORM has raised its dividend by an average of 102.0% per year over the last three years. TORM has a payout ratio of 81.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.
TORM Trading Up 1.4 %
TRMD traded up $0.51 during trading hours on Thursday, reaching $36.31. 872,403 shares of the company’s stock traded hands, compared to its average volume of 657,863. The firm has a 50-day moving average price of $34.23 and a 200 day moving average price of $32.69. The company has a quick ratio of 2.37, a current ratio of 2.60 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $2.96 billion, a PE ratio of 4.86 and a beta of 0.16. TORM has a 52-week low of $22.31 and a 52-week high of $37.11.
About TORM
TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.
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