International Seaways Inc. Announces Quarterly Dividend of $0.12 (NYSE:INSW)

International Seaways Inc. (NYSE:INSW) announced a quarterly dividend on Wednesday, May 6th. Shareholders of record on Friday, June 12th will be paid a dividend of 0.12 per share by the transportation company on Friday, June 26th. This represents a c) annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, June 12th.

International Seaways has increased its dividend payment by an average of 0.6%annually over the last three years. International Seaways has a payout ratio of 8.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect International Seaways to earn $5.81 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 8.3%.

International Seaways Stock Up 5.1%

NYSE INSW traded up $4.41 on Thursday, hitting $90.18. 1,224,307 shares of the stock traded hands, compared to its average volume of 590,612. The stock has a 50-day moving average of $74.28 and a 200 day moving average of $60.97. International Seaways has a twelve month low of $35.60 and a twelve month high of $91.58. The company has a market capitalization of $4.46 billion, a P/E ratio of 14.47 and a beta of -0.09. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 0.27.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $1.22. International Seaways had a return on equity of 13.92% and a net margin of 36.67%.The firm had revenue of $325.48 million for the quarter, compared to analysts’ expectations of $279.34 million. During the same quarter in the prior year, the firm posted $0.80 earnings per share. International Seaways’s revenue for the quarter was up 77.5% compared to the same quarter last year. As a group, analysts expect that International Seaways will post 9.73 earnings per share for the current fiscal year.

About International Seaways

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.