SFL Co. Ltd. (NYSE:SFL) Plans $0.27 Quarterly Dividend

SFL Co. Ltd. (NYSE:SFL) declared a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Investors of record on Wednesday, March 12th will be given a dividend of 0.27 per share by the shipping company on Friday, March 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 10.99%. The ex-dividend date is Wednesday, March 12th.

SFL has increased its dividend payment by an average of 19.3% annually over the last three years. SFL has a dividend payout ratio of 140.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

SFL Stock Performance

SFL opened at $9.83 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 1.93. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 8.85 and a beta of 0.66. The company’s 50 day moving average is $10.46 and its 200 day moving average is $10.91. SFL has a 12-month low of $9.64 and a 12-month high of $14.62.

Analyst Ratings Changes

A number of research firms have commented on SFL. StockNews.com cut shares of SFL from a “hold” rating to a “sell” rating in a research note on Thursday. Fearnley Fonds upgraded shares of SFL from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st.

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.