Torm Plc (NASDAQ:TRMD) Plans Quarterly Dividend of $2.40

Torm Plc (NASDAQ:TRMD) announced a quarterly dividend on Wednesday, August 26th. Stockholders of record on Thursday, September 10th will be paid a dividend of 2.40 per share on Thursday, September 24th. This represents a c) annualized dividend and a dividend yield of 31.6%. The ex-dividend date is Thursday, September 10th. This is a 242.9% increase from Torm’s previous quarterly dividend of $0.70.

Torm has increased its dividend payment by an average of 0.1%annually over the last three years. Torm has a dividend payout ratio of 78.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

Torm Price Performance

TRMD stock traded down $1.09 during midday trading on Wednesday, hitting $30.38. The company’s stock had a trading volume of 1,390,467 shares, compared to its average volume of 770,146. The company has a quick ratio of 1.20, a current ratio of 1.40 and a debt-to-equity ratio of 0.35. Torm has a 12 month low of $19.30 and a 12 month high of $35.33. The company has a 50 day moving average of $29.26 and a two-hundred day moving average of $29.13. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 8.93 and a beta of 0.09.

Torm (NASDAQ:TRMD) last announced its quarterly earnings results on Wednesday, August 26th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.31 by ($0.06). The company had revenue of $662.80 million during the quarter, compared to analysts’ expectations of $499.01 million. Torm had a return on equity of 15.81% and a net margin of 24.45%.

Torm Company Profile

Torm A/S (NASDAQ: TRMD) is an international shipping company specializing in the transportation of refined petroleum products. The firm owns and operates a modern fleet of product tankers, including both Handysize and MR vessels, which are designed to carry a broad range of clean petroleum cargoes such as gasoline, jet fuel and diesel. Torm’s core business revolves around voyage and time-charter contracts with major oil companies, trading houses and other energy sector clients around the world.

The company’s fleet is deployed on global trade routes, with particular focus on major refining and consumption regions in Europe, North America and Asia.