Torm Plc (NASDAQ:TRMD) Shareholders Set to Receive $1.35 Quarterly Dividend

by · The Markets Daily

Torm Plc (NASDAQ:TRMD – Get Free Report) announced a quarterly dividend on Wednesday, November 4th. Shareholders of record on Tuesday, November 17th will be paid a dividend of $1.35 per share on Wednesday, December 2nd. This represents a $5.40 annualized dividend and a yield of 14.3%. The ex-dividend date of this dividend is Tuesday, November 17th. This is a 43.7% decrease from Torm’s previous quarterly dividend of $2.40.

Torm has increased its dividend by an average of 0.1% annually over the last three years. Torm has a payout ratio of 269.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Torm Stock Performance

Shares of NASDAQ TRMD traded down $2.62 during trading on Wednesday, reaching $37.64. 2,450,098 shares of the company traded hands, compared to its average volume of 1,036,543. The stock has a market cap of $3.84 billion, a P/E ratio of 6.20 and a beta of 0.05. The firm’s fifty day simple moving average is $37.21 and its 200 day simple moving average is $30.75. The company has a current ratio of 2.27, a quick ratio of 1.97 and a debt-to-equity ratio of 0.33. Torm has a 12-month low of $19.30 and a 12-month high of $43.31.

Torm (NASDAQ:TRMD – Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.36. Torm had a return on equity of 27.24% and a net margin of 35.51%. The company had revenue of $499.40 million during the quarter, compared to analysts’ expectations of $330.95 million.

About Torm

(Get Free Report)

TORM plc is a maritime transportation company that owns and operates a fleet of product tankers. The company primarily transports refined petroleum products, including gasoline, diesel, jet fuel and naphtha, connecting refineries, storage facilities and distribution markets around the world.

TORM’s fleet serves the global clean-product tanker market and includes vessels in several size categories, such as long-range and medium-range tankers. Its vessels operate on international trade routes, supporting the movement of energy products between major production and consumption regions.

Founded in Denmark in 1889, TORM has grown into an international shipping company headquartered in Copenhagen.

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