Flex LNG Ltd. (FLNG) To Go Ex-Dividend on September 3rd

Flex LNG Ltd. (NYSE:FLNG) announced a quarterly dividend on Tuesday, August 18th. Shareholders of record on Thursday, September 3rd will be given a dividend of 0.75 per share on Thursday, September 17th. This represents a c) annualized dividend and a yield of 9.3%. The ex-dividend date is Thursday, September 3rd.

Flex LNG has increased its dividend by an average of 0.8%annually over the last three years. Flex LNG has a 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.

Flex LNG Stock Performance

Shares of FLNG opened at $32.35 on Thursday. The stock has a 50-day moving average of $30.37 and a 200-day moving average of $29.98. The company has a market cap of $1.75 billion, a PE ratio of 23.11 and a beta of 0.20. The company has a debt-to-equity ratio of 2.45, a current ratio of 2.72 and a quick ratio of 2.69. Flex LNG has a one year low of $24.00 and a one year high of $33.40.

Flex LNG (NYSE:FLNG) last posted its earnings results on Wednesday, August 19th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.17. Flex LNG had a return on equity of 12.15% and a net margin of 22.26%.The company had revenue of $106.80 million for the quarter, compared to analyst estimates of $93.53 million.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FLNG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Flex LNG in the third quarter valued at about $28,392,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Flex LNG during the third quarter worth about $9,764,000. Dimensional Fund Advisors LP bought a new stake in Flex LNG during the 3rd quarter valued at approximately $9,497,000. Renaissance Technologies LLC lifted its holdings in Flex LNG by 42.5% in the 1st quarter. Renaissance Technologies LLC now owns 1,170,795 shares of the company’s stock worth $34,784,000 after purchasing an additional 349,191 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in Flex LNG by 834.5% in the 3rd quarter. Two Sigma Investments LP now owns 271,681 shares of the company’s stock worth $6,846,000 after purchasing an additional 242,608 shares during the period.

Flex LNG Company Profile

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.