FLEX LNG Ltd. (NYSE:FLNG – Get Free Report) declared a quarterly dividend on Friday, May 24th, Wall Street Journal reports. Shareholders of record on Monday, June 10th will be given a dividend of 0.75 per share on Friday, June 21st. This represents a $3.00 dividend on an annualized basis and a yield of 10.19%. The ex-dividend date is Monday, June 10th.
FLEX LNG has raised its dividend by an average of 152.6% annually over the last three years. FLEX LNG has a dividend payout ratio of 119.5% 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 FLEX LNG to earn $2.38 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 126.1%.
FLEX LNG Stock Performance
Shares of NYSE FLNG opened at $29.43 on Friday. FLEX LNG has a 52-week low of $24.16 and a 52-week high of $33.33. The company has a current ratio of 2.89, a quick ratio of 2.86 and a debt-to-equity ratio of 2.02. The company’s 50-day simple moving average is $26.55 and its 200-day simple moving average is $27.91.
Analyst Upgrades and Downgrades
Separately, Jefferies Financial Group lifted their price target on FLEX LNG from $23.00 to $25.00 and gave the stock an “underperform” rating in a research note on Thursday.
View Our Latest Analysis on FLNG
About FLEX LNG
Flex LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. Flex LNG Ltd.
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