Golden Ocean Group Limited (NASDAQ:GOGL – Get Free Report) declared a quarterly dividend on Wednesday, August 28th, Zacks reports. Investors of record on Wednesday, September 11th will be paid a dividend of 0.30 per share by the shipping company on Friday, September 20th. This represents a $1.20 dividend on an annualized basis and a yield of 10.49%. The ex-dividend date is Wednesday, September 11th.
Golden Ocean Group has raised its dividend by an average of 115.4% per year over the last three years. Golden Ocean Group has a payout ratio of 71.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Golden Ocean Group to earn $1.69 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 71.0%.
Golden Ocean Group Stock Performance
Shares of GOGL opened at $11.44 on Tuesday. The business has a 50-day simple moving average of $12.48 and a two-hundred day simple moving average of $13.18. The company has a quick ratio of 1.00, a current ratio of 1.17 and a debt-to-equity ratio of 0.66. Golden Ocean Group has a 52 week low of $7.09 and a 52 week high of $15.77. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 12.30 and a beta of 1.16.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Analysis on GOGL
About Golden Ocean Group
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.
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