International Seaways Inc. (INSW) to Issue Quarterly Dividend of $5.05 on September 24th

International Seaways Inc. (NYSE:INSW) declared a quarterly dividend on Friday, August 7th. Investors 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) dividend on an annualized basis and a yield of 19.4%. 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 raised its dividend payment by an average of 0.6%annually over the last three years. International Seaways has a dividend payout ratio of 350.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect International Seaways to earn $11.25 per share next year, which means the company may not be able to cover its $20.20 annual dividend with an expected future payout ratio of 179.6%.

International Seaways Trading Down 0.2%

INSW opened at $104.26 on Tuesday. International Seaways has a 12 month low of $42.26 and a 12 month high of $105.50. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 6.67, a PEG ratio of 0.27 and a beta of -0.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.94 and a quick ratio of 5.76. The business has a fifty day moving average price of $92.65 and a 200 day moving average price of $82.94.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.36. The company had revenue of $467.29 million for the quarter, compared to the consensus estimate of $406.38 million. International Seaways had a return on equity of 31.75% and a net margin of 61.98%.International Seaways’s revenue was up 138.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.02 EPS. Sell-side analysts expect that International Seaways will post 16.09 earnings per share 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.