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

Flex LNG Ltd. (NYSE:FLNGGet Free Report) announced a quarterly dividend on Wednesday, August 19th. Stockholders of record on Thursday, September 3rd will be paid a dividend of 0.75 per share on Thursday, September 17th. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date is Thursday, September 3rd.

Flex LNG has raised its dividend by an average of 0.8%annually over the last three years. Flex LNG has a 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 Performance

FLNG traded up $1.25 during trading hours on Wednesday, hitting $32.35. 726,930 shares of the stock were exchanged, compared to its average volume of 482,455. The stock has a 50-day simple moving average of $30.33 and a 200-day simple moving average of $29.94. Flex LNG has a 12 month low of $24.00 and a 12 month high of $33.40. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 23.11 and a beta of 0.20. The company has a debt-to-equity ratio of 2.45, a current ratio of 2.72 and a quick ratio of 2.69.

Flex LNG (NYSE:FLNGGet Free Report) last released its earnings results on Wednesday, August 19th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.17. The firm had revenue of $106.80 million during the quarter, compared to analyst estimates of $93.53 million. Flex LNG had a net margin of 22.26% and a return on equity of 12.15%.

About Flex LNG

(Get Free Report)

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.

See Also

Dividend History for Flex LNG (NYSE:FLNG)

Receive News & Ratings for Flex LNG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flex LNG and related companies with MarketBeat.com's FREE daily email newsletter.