Torm Plc (TRMD) to Issue Quarterly Dividend of $2.40 on September 24th

Torm Plc (NASDAQ:TRMD) announced a quarterly dividend on Wednesday, August 26th. Investors of record on Thursday, September 10th will be paid a dividend of 2.40 per share on Thursday, September 24th. This represents a c) annualized dividend and a yield of 27.3%. The ex-dividend date of this dividend is Thursday, September 10th. This is a 242.9% increase from Torm’s previous quarterly dividend of $0.70.

Torm has increased its dividend payment by an average of 0.1%annually over the last three years. Torm has a dividend payout ratio of 269.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Torm Stock Performance

Shares of Torm stock opened at $35.18 on Tuesday. The company’s fifty day simple moving average is $30.11 and its 200-day simple moving average is $29.63. The stock has a market capitalization of $3.59 billion, a PE ratio of 5.80 and a beta of 0.12. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.27 and a quick ratio of 1.97. Torm has a 1-year low of $19.30 and a 1-year high of $35.53.

Torm (NASDAQ:TRMD) last announced its quarterly earnings data on Wednesday, August 26th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.31 by ($0.06). Torm had a net margin of 35.51% and a return on equity of 27.24%. The firm had revenue of $662.80 million for the quarter, compared to the consensus estimate of $499.01 million.

About Torm

Torm A/S (NASDAQ: TRMD) is an international shipping company specializing in the transportation of refined petroleum products. The firm owns and operates a modern fleet of product tankers, including both Handysize and MR vessels, which are designed to carry a broad range of clean petroleum cargoes such as gasoline, jet fuel and diesel. Torm’s core business revolves around voyage and time-charter contracts with major oil companies, trading houses and other energy sector clients around the world.

The company’s fleet is deployed on global trade routes, with particular focus on major refining and consumption regions in Europe, North America and Asia.