SFL Co. Ltd. to Issue Quarterly Dividend of $0.27 (NYSE:SFL)

SFL Co. Ltd. (NYSE:SFL - Get Free Report) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Friday, December 13th will be paid a dividend of 0.27 per share by the shipping company on Friday, December 27th. This represents a $1.08 dividend on an annualized basis and a yield of 10.23%. The ex-dividend date of this dividend is Friday, December 13th.

SFL has decreased its dividend payment by an average of 1.0% annually over the last three years. SFL has a payout ratio of 112.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

SFL Stock Up 1.1 %

NYSE SFL traded up $0.12 on Thursday, reaching $10.56. The company had a trading volume of 1,146,411 shares, compared to its average volume of 833,939. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 10.43 and a beta of 0.68. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.34 and a current ratio of 0.34. SFL has a 1-year low of $10.27 and a 1-year high of $14.62. The company's fifty day moving average is $11.24 and its 200-day moving average is $12.46.

SFL (NYSE:SFL - Get Free Report) last announced its earnings results on Wednesday, August 14th. The shipping company reported $0.16 earnings per share for the quarter. SFL had a net margin of 15.17% and a return on equity of 12.58%. The firm had revenue of $190.90 million during the quarter, compared to analyst estimates of $184.17 million. During the same period in the prior year, the business earned $0.13 EPS. The company's revenue for the quarter was up 16.1% compared to the same quarter last year.

Analysts Set New Price Targets

Several brokerages have commented on SFL. Pareto Securities raised shares of SFL from a "hold" rating to a "buy" rating in a research report on Tuesday, August 20th. StockNews.com raised shares of SFL from a "hold" rating to a "buy" rating in a research report on Tuesday, July 16th.

About SFL

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.