Frontline PLC (FRO) to Distribute Quarterly Dividend of $2.61 on September 28th

Frontline PLC (NYSE:FRO) announced a quarterly dividend on Thursday, August 27th. Investors of record on Friday, September 18th will be given a dividend of 2.61 per share by the shipping company on Monday, September 28th. This represents a c) dividend on an annualized basis and a dividend yield of 23.7%. The ex-dividend date is Friday, September 18th. This is a 68.4% increase from Frontline’s previous quarterly dividend of $1.55.

Frontline has decreased its dividend payment by an average of 0.1%per year over the last three years. Frontline has a payout ratio of 206.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Frontline Trading Up 0.6%

Shares of NYSE:FRO opened at $44.02 on Friday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.83. The company’s 50-day moving average price is $39.32 and its 200 day moving average price is $36.77. The company has a market cap of $9.80 billion, a PE ratio of 10.84 and a beta of 0.02. Frontline has a fifty-two week low of $20.31 and a fifty-two week high of $45.29.

Frontline (NYSE:FRO) last posted its earnings results on Friday, August 28th. The shipping company reported $2.96 EPS for the quarter, topping the consensus estimate of $2.74 by $0.22. Frontline had a net margin of 36.70% and a return on equity of 27.80%. The firm had revenue of $943.30 million during the quarter, compared to analysts’ expectations of $758.85 million. During the same quarter in the prior year, the firm earned $0.36 EPS. Frontline’s quarterly revenue was up 96.5% on a year-over-year basis.

Frontline Company Profile

Frontline Ltd. (NYSE:FRO) is a leading global shipping company specializing in the seaborne transportation of crude oil and petroleum products. The company’s core business activities encompass the ownership and operation of very large crude carriers (VLCCs), Suezmax tankers and Aframax vessels. Through long-term charters, spot market operations and time charters, Frontline provides flexible shipping solutions that cater to a diverse set of energy producers, refiners and trading houses worldwide.

Frontline’s fleet is geared toward high-capacity, ocean-going tankers capable of carrying large volumes of crude oil over intercontinental distances.