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

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

Flex LNG has raised its dividend payment by an average of 0.8%per year 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 Trading Down 3.6%

Shares of NYSE FLNG opened at $31.75 on Thursday. Flex LNG has a one year low of $21.72 and a one year high of $33.40. The firm has a market capitalization of $1.72 billion, a PE ratio of 22.84 and a beta of 0.20. The company has a current ratio of 3.04, a quick ratio of 2.98 and a debt-to-equity ratio of 2.42. The business has a 50-day moving average price of $30.57 and a two-hundred day moving average price of $27.64.

Flex LNG (NYSE:FLNG) last released its earnings results on Wednesday, May 13th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). The business had revenue of $80.46 million for the quarter, compared to analysts’ expectations of $80.35 million. Flex LNG had a net margin of 21.52% and a return on equity of 13.46%.

About Flex LNG

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.