Torm Plc (NASDAQ:TRMD) Declares $0.70 Quarterly Dividend

Torm Plc (NASDAQ:TRMD) announced a quarterly dividend on Wednesday, May 13th. Stockholders of record on Thursday, May 28th will be given a dividend of 0.70 per share on Thursday, June 11th. This represents a c) annualized dividend and a dividend yield of 8.6%. The ex-dividend date of this dividend is Thursday, May 28th.

Torm has raised its dividend by an average of 0.1%annually over the last three years. Torm has a 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 tumble.

Torm Trading Down 6.1%

Shares of NASDAQ TRMD traded down $2.11 during mid-day trading on Wednesday, hitting $32.46. The company’s stock had a trading volume of 1,612,305 shares, compared to its average volume of 786,433. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.33 and a quick ratio of 1.16. Torm has a one year low of $15.79 and a one year high of $35.33. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 11.43 and a beta of 0.14. The company’s fifty day simple moving average is $29.43 and its 200-day simple moving average is $25.01.

Torm (NASDAQ:TRMD) last announced its earnings results on Wednesday, May 13th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.15). Torm had a net margin of 21.29% and a return on equity of 13.26%. The business had revenue of $402.00 million during the quarter, compared to the consensus estimate of $297.43 million.

Torm Company Profile

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.