TORM plc (NASDAQ:TRMD) Announces Quarterly Dividend of $1.50

TORM plc (NASDAQ:TRMD) declared a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Investors of record on Wednesday, May 22nd will be paid a dividend of 1.50 per share on Tuesday, June 4th. This represents a $6.00 annualized dividend and a yield of 16.52%. The ex-dividend date is Tuesday, May 21st. This is a positive change from TORM’s previous quarterly dividend of $1.36.

TORM has increased its dividend by an average of 102.0% annually over the last three years. TORM has a payout ratio of 81.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

TORM Trading Up 1.4 %

NASDAQ TRMD opened at $36.31 on Friday. The firm has a market capitalization of $2.96 billion, a PE ratio of 4.87 and a beta of 0.16. The business’s 50-day moving average price is $34.23 and its two-hundred day moving average price is $32.69. The company has a current ratio of 2.60, a quick ratio of 2.37 and a debt-to-equity ratio of 0.53. TORM has a 12 month low of $22.31 and a 12 month high of $37.11.

TORM (NASDAQ:TRMD) last announced its earnings results on Thursday, March 7th. The company reported $1.56 EPS for the quarter. The business had revenue of $387.78 million for the quarter. TORM had a return on equity of 36.99% and a net margin of 42.64%.

TORM Company Profile

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.