Golden Ocean Group Limited (NASDAQ:GOGL) Declares $0.15 Quarterly Dividend

Golden Ocean Group Limited (NASDAQ:GOGL - Get Free Report) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Investors of record on Tuesday, March 11th will be paid a dividend of 0.15 per share by the shipping company on Friday, March 21st. This represents a $0.60 dividend on an annualized basis and a yield of 6.15%. The ex-dividend date is Tuesday, March 11th.

Golden Ocean Group has decreased its dividend by an average of 9.1% annually over the last three years. Golden Ocean Group has a payout ratio of 35.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Golden Ocean Group to earn $0.95 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 63.2%.

Golden Ocean Group Stock Up 0.5 %

GOGL traded up $0.05 on Monday, reaching $9.75. The company's stock had a trading volume of 9,283,659 shares, compared to its average volume of 2,359,499. The stock has a 50 day moving average of $9.20 and a two-hundred day moving average of $10.59. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 8.06 and a beta of 1.16. Golden Ocean Group has a fifty-two week low of $8.52 and a fifty-two week high of $15.77.

Analysts Set New Price Targets

Several research firms have recently weighed in on GOGL. Pareto Securities reissued a "hold" rating and issued a $12.50 price objective on shares of Golden Ocean Group in a report on Thursday, November 21st. Jefferies Financial Group reissued a "hold" rating and issued a $10.00 price objective on shares of Golden Ocean Group in a report on Wednesday, February 26th.

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Golden Ocean Group Company Profile

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels worldwide. The company's dry bulk vessels comprise Newcastlemax, Capesize, and Panamax vessels operating in the spot and time charter markets. It also transports a range of bulk commodities, including ores, coal, grains, and fertilizers.