Torm Plc (NASDAQ:TRMD) to Issue Quarterly Dividend of $2.40

Torm Plc (NASDAQ:TRMD) announced a quarterly dividend on Wednesday, August 26th. Shareholders of record on Thursday, September 10th will be paid a dividend of 2.40 per share on Thursday, September 24th. This represents a c) annualized dividend and a dividend yield of 31.6%. The ex-dividend date of this dividend is Thursday, September 10th. This is a 242.9% increase from Torm’s previous quarterly dividend of $0.70.

Torm has increased its dividend payment by an average of 0.1%annually over the last three years. Torm has a dividend payout ratio of 78.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.

Torm Price Performance

Shares of NASDAQ TRMD traded down $1.09 during trading on Wednesday, hitting $30.38. 1,390,467 shares of the company were exchanged, compared to its average volume of 770,146. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.40 and a quick ratio of 1.20. Torm has a 1 year low of $19.30 and a 1 year high of $35.33. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 8.93 and a beta of 0.09. The firm’s fifty day moving average price is $29.26 and its 200 day moving average price is $29.13.

Torm (NASDAQ:TRMD) last announced its quarterly earnings results on Wednesday, August 26th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.06). Torm had a net margin of 24.45% and a return on equity of 15.81%. The company had revenue of $662.80 million during the quarter, compared to analysts’ expectations of $499.01 million.

Wall Street Analysts Forecast Growth

TRMD has been the subject of a number of research analyst reports. Evercore reaffirmed an “outperform” rating and issued a $37.00 target price on shares of Torm in a report on Wednesday, July 22nd. Wall Street Zen lowered Torm from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 9th. Weiss Ratings restated a “hold (c)” rating on shares of Torm in a report on Wednesday, July 15th. Finally, Pareto Securities cut Torm from a “hold” rating to a “hold” rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Torm has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

About Torm

Torm A/S (NASDAQ: TRMD) is an international shipping company specializing in the transportation of refined petroleum products. The firm owns and operates a modern fleet of product tankers, including both Handysize and MR vessels, which are designed to carry a broad range of clean petroleum cargoes such as gasoline, jet fuel and diesel. Torm’s core business revolves around voyage and time-charter contracts with major oil companies, trading houses and other energy sector clients around the world.

The company’s fleet is deployed on global trade routes, with particular focus on major refining and consumption regions in Europe, North America and Asia.