Ship Finance International Limited (NYSE:SFL) Announces Quarterly Dividend of $0.35

Ship Finance International Limited (NYSE:SFL) announced a quarterly dividend on Tuesday, August 20th, Zacks reports. Stockholders of record on Thursday, September 12th will be given a dividend of 0.35 per share by the shipping company on Monday, September 23rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 10.06%. The ex-dividend date of this dividend is Wednesday, September 11th.

Ship Finance International has decreased its dividend payment by an average of 7.0% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Ship Finance International has a dividend payout ratio of 126.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Ship Finance International to earn $0.94 per share next year, which means the company may not be able to cover its $1.40 annual dividend with an expected future payout ratio of 148.9%.

NYSE SFL opened at $13.92 on Wednesday. The company has a 50 day simple moving average of $12.86 and a 200-day simple moving average of $12.61. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.32 and a quick ratio of 1.29. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 13.51 and a beta of 1.28. Ship Finance International has a 52-week low of $10.31 and a 52-week high of $14.85.

Ship Finance International (NYSE:SFL) last posted its quarterly earnings results on Tuesday, May 21st. The shipping company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The business had revenue of $116.54 million during the quarter, compared to analyst estimates of $116.35 million. Ship Finance International had a net margin of 18.64% and a return on equity of 9.35%. During the same period in the prior year, the firm earned $0.24 earnings per share. On average, analysts predict that Ship Finance International will post 0.83 EPS for the current year.

A number of analysts have recently issued reports on the stock. TheStreet raised shares of Ship Finance International from a “c” rating to a “b-” rating in a research report on Tuesday, May 21st. ValuEngine raised shares of Ship Finance International from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Zacks Investment Research raised shares of Ship Finance International from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Ship Finance International presently has a consensus rating of “Buy” and an average target price of $13.33.

About Ship Finance International

Ship Finance International Ltd. engages in the ownership and operation of vessels and offshore related assets. It also involves in the charter, purchase, and sale of assets. Its assets include oil tankers, dry bulk carriers, container vessels, car carriers, jack-up drilling rig, ultra-deepwater drilling units, offshore supply vessels, and chemical tankers.

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Dividend History for Ship Finance International (NYSE:SFL)

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