SFL Corporation Ltd. (NYSE:SFL) Shareholders to Receive $0.22 Quarterly Dividend

by · The Markets Daily

SFL Corporation Ltd. (NYSE:SFL – Get Free Report) announced a quarterly dividend on Wednesday, November 4th. Investors of record on Tuesday, December 15th will be paid a dividend of $0.22 per share by the shipping company on Monday, December 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date of this dividend is Tuesday, December 15th.

SFL has a payout ratio of 303.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

SFL Stock Performance

Shares of SFL opened at $11.70 on Thursday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 1.75. SFL has a 12-month low of $7.34 and a 12-month high of $13.98. The company has a market cap of $1.69 billion, a PE ratio of 24.38 and a beta of 0.48. The stock has a 50-day moving average price of $12.85 and a 200-day moving average price of $11.44.

SFL (NYSE:SFL – Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The shipping company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. The firm had revenue of $201.58 million for the quarter, compared to analyst estimates of $187.80 million. SFL had a net margin of 8.76% and a return on equity of 3.41%. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.07 EPS.

Institutional Investors Weigh In On SFL

Large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in shares of SFL by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 8,805,291 shares of the shipping company’s stock worth $95,007,000 after acquiring an additional 244,621 shares during the period. Empowered Funds LLC grew its position in SFL by 3.9% during the first quarter. Empowered Funds LLC now owns 685,833 shares of the shipping company’s stock valued at $7,400,000 after buying an additional 25,820 shares during the period. Renaissance Technologies LLC grew its position in SFL by 25.2% during the first quarter. Renaissance Technologies LLC now owns 437,565 shares of the shipping company’s stock valued at $4,721,000 after buying an additional 88,100 shares during the period. Commonwealth Equity Services LLC increased its holdings in SFL by 73.3% during the third quarter. Commonwealth Equity Services LLC now owns 86,253 shares of the shipping company’s stock valued at $1,135,000 after buying an additional 36,493 shares during the last quarter. Finally, Burney Co. bought a new position in SFL in the first quarter worth approximately $879,000. 28.59% of the stock is currently owned by institutional investors.

About SFL

(Get Free Report)

SFL Corporation Ltd. is a maritime and offshore asset-owning company headquartered in Hamilton, Bermuda, and listed on the New York Stock Exchange under the symbol SFL. Formerly known as Ship Finance International Limited, the company was established in 2003 and has developed a diversified portfolio of vessels and offshore assets.

The company primarily acquires, owns and leases assets under long-term charter and lease agreements. Its portfolio has included crude oil and product tankers, dry bulk carriers, container ships, car carriers, offshore drilling units and other specialized maritime assets.

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