Flex LNG Ltd. (FLNG) To Go Ex-Dividend on May 29th

Flex LNG Ltd. (NYSE:FLNG) declared a quarterly dividend on Tuesday, May 12th. Stockholders of record on Friday, May 29th will be paid a dividend of 0.75 per share on Thursday, June 11th. This represents a c) dividend on an annualized basis and a dividend yield of 9.5%. The ex-dividend date of this dividend is Friday, May 29th.

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

Flex LNG Stock Down 1.0%

Shares of FLNG stock opened at $31.65 on Wednesday. Flex LNG has a 12 month low of $21.72 and a 12 month high of $33.40. The firm has a market cap of $1.71 billion, a PE ratio of 22.61 and a beta of 0.20. The stock has a 50 day moving average of $31.08 and a 200-day moving average of $28.05. The company has a quick ratio of 2.69, a current ratio of 2.72 and a debt-to-equity ratio of 2.45.

Flex LNG (NYSE:FLNG) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Flex LNG had a return on equity of 12.15% and a net margin of 22.26%.The business had revenue of $80.46 million for the quarter, compared to analyst estimates of $80.35 million.

Flex LNG Company Profile

Flex LNG Ltd is a Bermuda-registered owner and operator of liquefied natural gas (LNG) carriers, offering shipping services to major energy producers and utilities worldwide. Since its establishment in 2006, the company has focused on building a versatile fleet of modern, eco-efficient LNG vessels designed to meet the growing global demand for lower-emission fuel transportation.

The company’s core activities encompass time-charter contracts, long-term transportation agreements and spot market voyages.