Flex LNG Ltd. (FLNG) to Issue Quarterly Dividend of $0.75 on December 11th

Flex LNG Ltd. (NYSE:FLNG) declared a quarterly dividend on Tuesday, November 11th. Shareholders of record on Friday, November 28th will be paid a dividend of 0.75 per share on Thursday, December 11th. This represents a c) annualized dividend and a yield of 11.7%. The ex-dividend date is Friday, November 28th.

Flex LNG has raised its dividend payment by an average of 1.1%annually over the last three years. Flex LNG has a dividend 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. Equities research analysts expect Flex LNG to earn $2.12 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 141.5%.

Flex LNG Price Performance

Shares of NYSE:FLNG traded up $0.56 during midday trading on Thursday, hitting $25.59. 152,833 shares of the stock were exchanged, compared to its average volume of 435,226. The stock has a market cap of $1.38 billion, a P/E ratio of 13.87 and a beta of 0.49. Flex LNG has a twelve month low of $19.46 and a twelve month high of $27.67. The company has a 50 day moving average price of $25.39 and a 200-day moving average price of $24.65. The company has a current ratio of 2.84, a quick ratio of 2.81 and a debt-to-equity ratio of 2.23.

Flex LNG (NYSE:FLNG) last released its quarterly earnings results on Tuesday, November 11th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.03). Flex LNG had a return on equity of 14.41% and a net margin of 27.84%.The company had revenue of $85.70 million for the quarter, compared to analysts’ expectations of $83.52 million. On average, research analysts forecast that Flex LNG will post 1.9 earnings per share for the current year.

About Flex LNG

FLEX LNG Ltd. engages in the seaborne transportation of liquefied natural gas (LPG) through the ownership and operation of LNG carriers. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in September 2006 and is headquartered in Hamilton, Bermuda.