SFL Co. Ltd. (SFL) To Go Ex-Dividend on March 12th

SFL Co. Ltd. (NYSE:SFL) declared a quarterly dividend on Wednesday, February 12th, Wall Street Journal reports. Investors of record on Wednesday, March 12th will be paid a dividend of 0.27 per share by the shipping company on Friday, March 28th. This represents a $1.08 dividend on an annualized basis and a yield of 11.94%. The ex-dividend date of this dividend is Wednesday, March 12th.

SFL has raised its dividend payment by an average of 19.3% annually over the last three years. SFL has a payout ratio of 308.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

SFL Stock Performance

Shares of SFL stock opened at $9.05 on Monday. The business’s fifty day simple moving average is $10.16 and its 200-day simple moving average is $10.64. The company has a market cap of $1.25 billion, a PE ratio of 8.96 and a beta of 0.67. The company has a current ratio of 0.38, a quick ratio of 0.50 and a debt-to-equity ratio of 1.91. SFL has a 12-month low of $8.53 and a 12-month high of $14.62.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SFL. StockNews.com downgraded SFL from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Fearnley Fonds raised shares of SFL from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st.

Institutional Investors Weigh In On SFL

A hedge fund recently raised its stake in SFL stock. Brighton Jones LLC raised its holdings in SFL Co. Ltd. (NYSE:SFL) by 8.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,395 shares of the shipping company’s stock after purchasing an additional 1,474 shares during the quarter. Brighton Jones LLC’s holdings in SFL were worth $198,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 28.59% of the company’s stock.

About SFL

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.