Flex LNG Ltd. (NYSE:FLNG) Shareholders to Get $0.75 Quarterly Dividend

Flex LNG Ltd. (NYSE:FLNG) declared a quarterly dividend on Wednesday, November 11th. Shareholders of record on Friday, November 27th will be given a dividend of $0.75 per share on Thursday, December 10th. This represents a $3.00 annualized dividend and a yield of 11.8%. The ex-dividend date of this dividend is Friday, November 27th.

Flex LNG has increased its dividend by an average of 0.8% annually over the last three years. Flex LNG has a payout ratio of 137.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Flex LNG Price Performance

FLNG stock traded up $0.06 on Wednesday, reaching $25.37. The company had a trading volume of 988,687 shares, compared to its average volume of 472,302. Flex LNG has a 1 year low of $24.14 and a 1 year high of $33.40. The company has a debt-to-equity ratio of 2.40, a quick ratio of 2.64 and a current ratio of 2.69. The company’s fifty day moving average is $29.90 and its 200 day moving average is $29.95. The company has a market cap of $1.37 billion, a P/E ratio of 13.35 and a beta of 0.24.

Flex LNG (NYSE:FLNG) last released its earnings results on Wednesday, November 11th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.64 by $0.01. Flex LNG had a net margin of 28.50% and a return on equity of 14.88%. The firm had revenue of $97.38 million during the quarter, compared to analysts’ expectations of $95.34 million.

Trending Headlines about Flex LNG

Here are a few of the latest headlines about FLNG:

• Positive Sentiment: Flex LNG reported Q3 earnings of $0.65 per share, slightly above the $0.64 consensus, and revenue of $97.38 million versus estimates of $95.34 million. Earnings report
• Positive Sentiment: The company declared a quarterly dividend of $0.75 per share, equivalent to $3.00 annually and a stated yield of 11.8%. The payout may appeal to income-focused investors; shareholders of record November 27 are due to be paid December 10.
• Negative Sentiment: Despite beating quarterly estimates, revenue was reported as lower than the prior-year period, and coverage highlighted pressure on charter rates. Those factors may limit the positive impact of the earnings beat. Flex LNG Q3 earnings coverage

About Flex LNG

Flex LNG Ltd. is an international shipping company focused on the transportation of liquefied natural gas (LNG). The company owns and operates LNG carriers that move natural gas by sea between producers and customers around the world. Flex LNG charters its vessels to energy companies and other participants in the LNG market. Its fleet includes ships equipped with modern propulsion technologies designed for efficient LNG transportation. Founded in 2006, Flex LNG is incorporated in Bermuda and has operations managed from Oslo, Norway.