Frontline PLC (NYSE:FRO) Declares Quarterly Dividend of $1.55

Frontline PLC (NYSE:FRO) declared a quarterly dividend on Friday, May 22nd. Stockholders of record on Friday, June 12th will be paid a dividend of 1.55 per share by the shipping company on Tuesday, June 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 16.7%. The ex-dividend date is Friday, June 12th. This is a 50.5% increase from Frontline’s previous quarterly dividend of $1.03.

Frontline has decreased its dividend by an average of 0.1%per year over the last three years. Frontline has a dividend payout ratio of 136.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Frontline Trading Down 3.1%

Shares of NYSE FRO traded down $1.21 during trading hours on Friday, hitting $37.23. 3,222,719 shares of the company traded hands, compared to its average volume of 3,615,311. The company’s 50 day moving average price is $35.42 and its 200 day moving average price is $29.75. Frontline has a 12 month low of $16.25 and a 12 month high of $39.89. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of 21.90 and a beta of 0.04. The company has a current ratio of 1.43, a quick ratio of 1.19 and a debt-to-equity ratio of 1.09.

Frontline (NYSE:FRO) last posted its quarterly earnings data on Saturday, February 28th. The shipping company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.10). Frontline had a return on equity of 16.51% and a net margin of 19.31%.The firm had revenue of $624.51 million for the quarter, compared to analysts’ expectations of $456.90 million. During the same period in the previous year, the firm earned $0.20 earnings per share. The firm’s quarterly revenue was up 46.7% compared to the same quarter last year.

Frontline Company Profile

Frontline Ltd. (NYSE:FRO) is a leading global shipping company specializing in the seaborne transportation of crude oil and petroleum products. The company’s core business activities encompass the ownership and operation of very large crude carriers (VLCCs), Suezmax tankers and Aframax vessels. Through long-term charters, spot market operations and time charters, Frontline provides flexible shipping solutions that cater to a diverse set of energy producers, refiners and trading houses worldwide.

Frontline’s fleet is geared toward high-capacity, ocean-going tankers capable of carrying large volumes of crude oil over intercontinental distances.