Golden Ocean Group Limited (GOGL) to Issue Quarterly Dividend of $0.15 on March 21st

Golden Ocean Group Limited (NASDAQ:GOGL) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders of record on Tuesday, March 11th will be given a dividend of 0.15 per share by the shipping company on Friday, March 21st. This represents a $0.60 annualized dividend and a yield of 6.84%. The ex-dividend date is Tuesday, March 11th.

Golden Ocean Group has decreased its dividend payment by an average of 9.1% per year over the last three years. Golden Ocean Group has a dividend payout ratio of 35.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Golden Ocean Group to earn $0.95 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 63.2%.

Golden Ocean Group Trading Up 0.6 %

GOGL opened at $8.77 on Friday. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 7.25 and a beta of 1.14. Golden Ocean Group has a 52 week low of $8.38 and a 52 week high of $15.77. The business’s 50 day moving average is $9.20 and its two-hundred day moving average is $10.51. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.65.

Wall Street Analyst Weigh In

Several research analysts have commented on GOGL shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $10.00 price target on shares of Golden Ocean Group in a research report on Wednesday, February 26th. Pareto Securities reaffirmed a “hold” rating and set a $12.50 price target on shares of Golden Ocean Group in a research report on Thursday, November 21st.

About Golden Ocean Group

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels worldwide. The company’s dry bulk vessels comprise Newcastlemax, Capesize, and Panamax vessels operating in the spot and time charter markets. It also transports a range of bulk commodities, including ores, coal, grains, and fertilizers.