Torm Plc (TRMD) to Issue Quarterly Dividend of $0.62 on December 3rd

Torm Plc (NASDAQ:TRMD) announced a quarterly dividend on Thursday, November 6th. Shareholders of record on Thursday, November 20th will be paid a dividend of 0.62 per share on Wednesday, December 3rd. This represents a c) annualized dividend and a dividend yield of 10.8%. The ex-dividend date is Thursday, November 20th. This is a 55.0% increase from Torm’s previous quarterly dividend of $0.40.

Torm has a dividend payout ratio of 69.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Torm to earn $3.58 per share next year, which means the company should continue to be able to cover its $1.81 annual dividend with an expected future payout ratio of 50.6%.

Torm Stock Performance

Shares of TRMD opened at $22.86 on Tuesday. The company has a quick ratio of 2.07, a current ratio of 2.37 and a debt-to-equity ratio of 0.36. Torm has a 52-week low of $13.60 and a 52-week high of $24.38. The company has a 50-day simple moving average of $21.71 and a 200-day simple moving average of $19.61. The company has a market capitalization of $2.15 billion, a PE ratio of 8.40 and a beta of 0.06.

Torm (NASDAQ:TRMD) last issued its earnings results on Thursday, November 6th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.17. Torm had a net margin of 21.37% and a return on equity of 13.03%. The company had revenue of $342.60 million for the quarter, compared to analyst estimates of $258.49 million. Equities research analysts predict that Torm will post 6.27 earnings per share for the current fiscal year.

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.