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

International Seaways Inc. (NYSE:INSW) declared a quarterly dividend on Wednesday, November 5th. Shareholders of record on Tuesday, December 9th will be paid a dividend of 0.12 per share by the transportation company on Tuesday, December 23rd. This represents a c) annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, December 9th.

International Seaways has a dividend payout ratio of 8.3% indicating that its dividend is sufficiently covered by earnings. Research 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 Trading Up 4.6%

INSW stock traded up $2.33 during mid-day trading on Thursday, hitting $52.47. 1,238,480 shares of the company were exchanged, compared to its average volume of 699,296. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $2.59 billion, a P/E ratio of 10.91 and a beta of -0.02. The business has a fifty day simple moving average of $46.99 and a 200-day simple moving average of $41.68. International Seaways has a 12-month low of $27.20 and a 12-month high of $53.90.

International Seaways (NYSE:INSW) last announced its earnings results on Wednesday, November 23rd. The transportation company reported ($0.63) earnings per share for the quarter. The company had revenue of $84.82 million for the quarter. International Seaways had a return on equity of 11.35% and a net margin of 29.88%. On average, equities research analysts predict that International Seaways will post 7.77 earnings per share for the current fiscal year.

About International Seaways

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.