Ship Finance International Limited (NYSE:SFL) announced a quarterly dividend on Wednesday, November 22nd, NASDAQ reports. Investors of record on Monday, December 11th will be paid a dividend of 0.35 per share by the shipping company on Friday, December 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.33%. The ex-dividend date of this dividend is Friday, December 8th.
Ship Finance International has raised its dividend payment by an average of 15.4% annually over the last three years and has increased its dividend every year for the last 5 years. Ship Finance International has a payout ratio of 112.9% meaning 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 $1.06 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 132.1%.
Ship Finance International (NYSE:SFL) opened at $15.00 on Thursday. Ship Finance International has a 1 year low of $12.30 and a 1 year high of $16.10. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.13. The company has a market cap of $1,425.94, a PE ratio of 11.47 and a beta of 1.41.
Several research firms have recently issued reports on SFL. Zacks Investment Research cut shares of Ship Finance International from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. Clarkson Capital upgraded shares of Ship Finance International from a “neutral” rating to a “buy” rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $16.00.
About Ship Finance International
Ship Finance International Limited is a holding, and international ship owning and chartering company. The Company is engaged in the ownership and operation of vessels and offshore related assets, and also involved in the charter, purchase and sale of assets. Its assets consist of approximately 20 oil tankers, over 20 dry bulk carriers, approximately 20 container vessels, including a newbuilding, two car carriers, two jack-up drilling rigs, two ultra-deepwater drilling units, five offshore supply vessels, two chemical tankers and two newbuilding oil product tankers.
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