TORM plc (NASDAQ:TRMD) Plans $0.88 Quarterly Dividend

TORM plc (NASDAQ:TRMD) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Thursday, November 21st will be paid a dividend of 0.876 per share on Wednesday, December 4th. This represents a $3.50 annualized dividend and a yield of 14.13%. The ex-dividend date of this dividend is Thursday, November 21st.

TORM has increased its dividend by an average of 102.0% per year over the last three years. TORM has a payout ratio of 130.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect TORM to earn $5.03 per share next year, which means the company may not be able to cover its $7.20 annual dividend with an expected future payout ratio of 143.1%.

TORM Stock Up 0.2 %

NASDAQ:TRMD opened at $24.79 on Friday. TORM has a 1 year low of $24.06 and a 1 year high of $40.47. The stock has a 50-day moving average price of $31.73 and a two-hundred day moving average price of $35.14. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.18 and a quick ratio of 2.94.

TORM (NASDAQ:TRMD) last issued its quarterly earnings data on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.03. The business had revenue of $437.70 million during the quarter, compared to analyst estimates of $325.38 million. TORM had a return on equity of 36.06% and a net margin of 43.81%. During the same period in the previous year, the firm earned $2.14 EPS. As a group, sell-side analysts expect that TORM will post 7.12 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TRMD shares. Fearnley Fonds upgraded shares of TORM to a “hold” rating in a report on Friday, September 27th. Evercore ISI increased their target price on TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd.

TORM Company Profile

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.