International Seaways Inc. (NYSE:INSW) to Issue $0.12 Quarterly Dividend

International Seaways Inc. (NYSE:INSW) declared a quarterly dividend on Wednesday, February 25th. Stockholders of record on Friday, March 20th will be given a dividend of 0.12 per share by the transportation company on Monday, March 30th. This represents a c) dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, March 20th.

International Seaways has a payout ratio of 8.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect International Seaways to earn $4.65 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 10.3%.

International Seaways Price Performance

Shares of NYSE:INSW traded up $2.97 during trading on Thursday, hitting $72.49. 860,982 shares of the company’s stock were exchanged, compared to its average volume of 463,694. The business’s 50-day simple moving average is $57.25 and its 200 day simple moving average is $51.26. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.75. International Seaways has a 52-week low of $27.20 and a 52-week high of $72.73. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 17.96 and a beta of -0.19.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, February 26th. The transportation company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.70. International Seaways had a net margin of 28.26% and a return on equity of 10.13%. The business had revenue of $267.88 million during the quarter, compared to analyst estimates of $245.29 million. During the same period last year, the firm posted $0.90 EPS. The company’s revenue was up 37.7% on a year-over-year basis. As a group, equities analysts predict that International Seaways will post 7.77 EPS for the current year.

About International Seaways

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.