Torm Plc (NASDAQ:TRMD) to Issue Dividend Increase – $0.70 Per Share

Torm Plc (NASDAQ:TRMD) declared a quarterly dividend on Thursday, February 26th. Shareholders of record on Thursday, March 12th will be paid a dividend of 0.70 per share on Wednesday, March 25th. This represents a c) dividend on an annualized basis and a yield of 9.6%. The ex-dividend date is Thursday, March 12th. This is a 12.9% increase from Torm’s previous quarterly dividend of $0.62.

Torm has a dividend payout ratio of 69.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Torm to earn $3.58 per share next year, which means the company should continue to be able to cover its $1.81 annual dividend with an expected future payout ratio of 50.6%.

Torm Trading Up 5.2%

Shares of TRMD stock traded up $1.44 during trading hours on Thursday, reaching $29.18. The company had a trading volume of 1,330,027 shares, compared to its average volume of 459,252. The company has a 50 day moving average of $23.07 and a 200 day moving average of $22.01. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 10.20 and a beta of 0.04. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.37 and a quick ratio of 2.07. Torm has a 1-year low of $13.60 and a 1-year high of $29.58.

Torm Company Profile

Torm A/S (NASDAQ: TRMD) is an international shipping company specializing in the transportation of refined petroleum products. The firm owns and operates a modern fleet of product tankers, including both Handysize and MR vessels, which are designed to carry a broad range of clean petroleum cargoes such as gasoline, jet fuel and diesel. Torm’s core business revolves around voyage and time-charter contracts with major oil companies, trading houses and other energy sector clients around the world.

The company’s fleet is deployed on global trade routes, with particular focus on major refining and consumption regions in Europe, North America and Asia.