FTAI Infrastructure Inc. (NASDAQ:FIP) Shareholders to Receive $0.03 Quarterly Dividend

FTAI Infrastructure Inc. (NASDAQ:FIP) announced a quarterly dividend on Wednesday, November 4th. Stockholders of record on Monday, November 23rd will be given a dividend of $0.03 per share on Monday, December 7th. This represents a $0.12 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, November 23rd.

FTAI Infrastructure has a dividend payout ratio of -16.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

FTAI Infrastructure Stock Up 6.9%

FIP stock opened at $2.94 on Friday. The stock has a market capitalization of $347.46 million, a price-to-earnings ratio of -0.57 and a beta of 1.82. FTAI Infrastructure has a 52-week low of $2.23 and a 52-week high of $6.69. The stock’s fifty day simple moving average is $2.89 and its 200-day simple moving average is $4.46.

FTAI Infrastructure (NASDAQ:FIP) last released its earnings results on Thursday, November 5th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.72). The company had revenue of $218.97 million during the quarter, compared to analysts’ expectations of $195.03 million.

About FTAI Infrastructure

FTAI Infrastructure Inc is an infrastructure company that owns and operates critical transportation and energy assets. Its portfolio is designed to support the movement, storage and processing of essential commodities and industrial products, with a focus on long-lived infrastructure that serves industrial and logistics customers.

The company’s businesses include Transtar, an industrial rail network serving manufacturing facilities, ports and other freight customers; Jefferson Terminal, a multimodal port and logistics facility on the U.S.