Torm Plc (NASDAQ:TRMD) Plans Quarterly Dividend of $0.70

Torm Plc (NASDAQ:TRMD) announced a quarterly dividend on Thursday, February 26th. Investors of record on Thursday, March 12th will be given a dividend of 0.70 per share on Wednesday, March 25th. This represents a c) dividend on an annualized basis and a yield of 9.6%. The ex-dividend date of this dividend is Thursday, March 12th. This is a 12.9% increase from Torm’s previous quarterly dividend of $0.62.

Torm has a dividend payout ratio of 69.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Torm to earn $3.58 per share next year, which means the company should continue to be able to cover its $1.81 annual dividend with an expected future payout ratio of 50.6%.

Torm Stock Performance

TRMD traded up $1.44 during midday trading on Thursday, reaching $29.18. The company had a trading volume of 1,330,027 shares, compared to its average volume of 459,252. Torm has a 12-month low of $13.60 and a 12-month high of $29.58. The business has a 50-day moving average price of $23.07 and a two-hundred day moving average price of $22.01. The stock has a market cap of $2.74 billion, a PE ratio of 10.20 and a beta of 0.04. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.07 and a current ratio of 2.37.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TRMD. Evercore reissued an “outperform” rating and issued a $34.00 target price on shares of Torm in a research report on Thursday. Fearnley Fonds raised Torm from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $34.00.

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.