Flex LNG Ltd. (FLNG) To Go Ex-Dividend on May 29th

Flex LNG Ltd. (NYSE:FLNG) declared a quarterly dividend on Tuesday, May 12th. Shareholders of record on Friday, May 29th will be given a dividend of 0.75 per share on Thursday, June 11th. This represents a c) dividend on an annualized basis and a yield of 9.5%. The ex-dividend date is Friday, May 29th.

Flex LNG has increased its dividend payment by an average of 0.8%per year over the last three years. Flex LNG has a payout ratio of 137.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Flex LNG Stock Down 3.6%

Shares of NYSE FLNG opened at $31.75 on Thursday. Flex LNG has a 12-month low of $21.72 and a 12-month high of $33.40. The firm’s 50-day simple moving average is $30.57 and its 200 day simple moving average is $27.64. The company has a quick ratio of 2.98, a current ratio of 3.04 and a debt-to-equity ratio of 2.42. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 22.84 and a beta of 0.20.

Flex LNG (NYSE:FLNG) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Flex LNG had a net margin of 21.52% and a return on equity of 13.46%. The company had revenue of $80.46 million during the quarter, compared to analyst estimates of $80.35 million.

Flex LNG Company Profile

Flex LNG Ltd is a Bermuda-registered owner and operator of liquefied natural gas (LNG) carriers, offering shipping services to major energy producers and utilities worldwide. Since its establishment in 2006, the company has focused on building a versatile fleet of modern, eco-efficient LNG vessels designed to meet the growing global demand for lower-emission fuel transportation.

The company’s core activities encompass time-charter contracts, long-term transportation agreements and spot market voyages.