SFL Corporation Ltd. (SFL) to Issue Quarterly Dividend of $0.22 on September 22nd

SFL Corporation Ltd. (NYSE:SFL) announced a quarterly dividend on Wednesday, August 26th. Stockholders of record on Wednesday, September 9th will be paid a dividend of 0.22 per share by the shipping company on Tuesday, September 22nd. This represents a c) annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Wednesday, September 9th.

SFL has decreased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 1 years. SFL has a dividend payout ratio of 303.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

SFL Trading Up 3.0%

NYSE:SFL opened at $12.38 on Friday. The stock has a fifty day moving average price of $11.58 and a 200 day moving average price of $11.23. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 1.84. SFL has a 12-month low of $6.73 and a 12-month high of $12.94. The firm has a market cap of $1.79 billion, a PE ratio of 25.80 and a beta of 0.43.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SFL. Weiss Ratings reissued a “hold (c)” rating on shares of SFL in a research report on Wednesday, August 12th. Benchmark reiterated a “buy” rating on shares of SFL in a research note on Wednesday. Wall Street Zen upgraded shares of SFL from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. Finally, BTIG Research restated a “buy” rating and issued a $14.00 price objective on shares of SFL in a report on Wednesday. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, SFL has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

SFL Company Profile

Ship Finance International Limited (NYSE: SFL) is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.

In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.