FLEX LNG Ltd. (FLNG) to Issue Quarterly Dividend of $0.75 on December 11th

FLEX LNG Ltd. (NYSE:FLNG) announced a quarterly dividend on Tuesday, November 12th,Zacks Dividends reports. Investors of record on Wednesday, November 27th will be given a dividend of 0.75 per share on Wednesday, December 11th. This represents a $3.00 annualized dividend and a dividend yield of 11.69%. The ex-dividend date of this dividend is Wednesday, November 27th.

FLEX LNG has increased its dividend payment by an average of 152.6% annually over the last three years. FLEX LNG has a dividend payout ratio of 122.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect FLEX LNG to earn $2.10 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 142.9%.

FLEX LNG Trading Up 3.4 %

Shares of FLNG opened at $25.67 on Thursday. The company has a quick ratio of 2.54, a current ratio of 2.57 and a debt-to-equity ratio of 2.01. The company has a 50 day moving average price of $25.39 and a 200-day moving average price of $26.57. FLEX LNG has a fifty-two week low of $22.80 and a fifty-two week high of $31.83.

FLEX LNG (NYSE:FLNG) last announced its earnings results on Wednesday, August 14th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.09. The business had revenue of $84.70 million for the quarter. FLEX LNG had a return on equity of 16.09% and a net margin of 25.33%. As a group, research analysts forecast that FLEX LNG will post 2.37 EPS for the current year.

Analyst Ratings Changes

Separately, Jefferies Financial Group reiterated a “hold” rating and issued a $24.00 target price on shares of FLEX LNG in a research note on Tuesday.

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.