Flex LNG Ltd. (NYSE:FLNG) Plans Quarterly Dividend of $0.75

Flex LNG Ltd. (NYSE:FLNGGet Free Report) announced a quarterly dividend on Wednesday, February 11th. Stockholders of record on Friday, February 27th will be paid a dividend of 0.75 per share on Thursday, March 12th. This represents a c) annualized dividend and a dividend yield of 11.5%. The ex-dividend date of this dividend is Friday, February 27th.

Flex LNG has raised its dividend payment by an average of 1.1%annually over the last three years. Flex LNG has a dividend payout ratio of 137.0% indicating that 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 Flex LNG to earn $2.12 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 141.5%.

Flex LNG Stock Down 1.8%

Shares of FLNG stock traded down $0.47 during trading hours on Wednesday, reaching $26.01. 539,518 shares of the stock were exchanged, compared to its average volume of 351,543. Flex LNG has a 12-month low of $19.46 and a 12-month high of $27.67. The business’s fifty day moving average is $25.77 and its two-hundred day moving average is $25.70. The firm has a market capitalization of $1.40 billion, a P/E ratio of 14.21 and a beta of 0.32. The company has a debt-to-equity ratio of 2.39, a current ratio of 3.10 and a quick ratio of 3.05.

Flex LNG (NYSE:FLNGGet Free Report) last issued its earnings results on Wednesday, February 11th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.18). Flex LNG had a return on equity of 14.04% and a net margin of 28.06%. As a group, research analysts expect that Flex LNG will post 1.9 EPS for the current fiscal year.

Flex LNG Company Profile

(Get Free Report)

Flex LNG Ltd is a Bermuda-registered owner and operator of liquefied natural gas (LNG) carriers, offering shipping services to major energy producers and utilities worldwide. Since its establishment in 2006, the company has focused on building a versatile fleet of modern, eco-efficient LNG vessels designed to meet the growing global demand for lower-emission fuel transportation.

The company’s core activities encompass time-charter contracts, long-term transportation agreements and spot market voyages.

Further Reading

Dividend History for Flex LNG (NYSE:FLNG)

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