FTAI Infrastructure Inc. (FIP) to Issue Quarterly Dividend of $0.03 on May 29th

FTAI Infrastructure Inc. (NASDAQ:FIP) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Shareholders of record on Friday, May 17th will be given a dividend of 0.03 per share on Wednesday, May 29th. This represents a $0.12 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Thursday, May 16th.

FTAI Infrastructure has a payout ratio of -24.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

FTAI Infrastructure Trading Up 3.9 %

NASDAQ:FIP traded up $0.29 during trading hours on Thursday, reaching $7.80. 930,459 shares of the company were exchanged, compared to its average volume of 834,832. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market cap of $793.21 million, a price-to-earnings ratio of -4.32 and a beta of 1.29. FTAI Infrastructure has a 52-week low of $2.84 and a 52-week high of $7.87. The stock has a 50 day simple moving average of $6.37 and a 200 day simple moving average of $4.74.

FTAI Infrastructure (NASDAQ:FIP) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.47) earnings per share for the quarter. FTAI Infrastructure had a negative return on equity of 32.27% and a negative net margin of 48.71%. The company had revenue of $81.44 million for the quarter.

Analyst Upgrades and Downgrades

Separately, BTIG Research initiated coverage on shares of FTAI Infrastructure in a research report on Thursday, April 18th. They issued a “buy” rating and a $10.00 price objective for the company.

About FTAI Infrastructure

FTAI Infrastructure Inc focuses on acquiring, developing, and operating assets and businesses that represent infrastructure for customers in the transportation, energy, and industrial products industries in North America. The company operates through five segments: Railroad, Jefferson Terminal, Repauno, Power and Gas, and Sustainability and Energy Transition.