International Seaways Inc. (NYSE:INSW) Announces Quarterly Dividend of $5.05

International Seaways Inc. (NYSE:INSW) declared a quarterly dividend on Monday, August 10th. Stockholders of record on Thursday, September 10th will be given a dividend of 5.05 per share by the transportation company on Thursday, September 24th. This represents a c) annualized dividend and a dividend yield of 22.5%. The ex-dividend date is Thursday, September 10th. This is a 4,108.3% increase from International Seaways’s previous quarterly dividend of $0.12.

International Seaways has increased its dividend payment by an average of 0.6%annually over the last three years. International Seaways has a dividend payout ratio of 8.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect International Seaways to earn $9.10 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 5.3%.

International Seaways Stock Performance

Shares of NYSE INSW traded down $2.51 during midday trading on Monday, hitting $89.90. The company’s stock had a trading volume of 816,680 shares, compared to its average volume of 578,267. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.28 and a current ratio of 7.34. International Seaways has a 1-year low of $41.20 and a 1-year high of $98.23. The firm’s fifty day moving average price is $85.93 and its 200-day moving average price is $77.30. The firm has a market cap of $4.45 billion, a P/E ratio of 8.19 and a beta of -0.13.

International Seaways (NYSE:INSW) last issued its earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.43 by $0.48. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The firm had revenue of $467.29 million for the quarter, compared to analysts’ expectations of $403.24 million. During the same quarter last year, the company posted $1.02 earnings per share. International Seaways’s revenue was up 138.9% on a year-over-year basis. On average, sell-side analysts forecast that International Seaways will post 15.62 EPS for the current fiscal year.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.