Frontline PLC (NYSE:FRO) Announces Quarterly Dividend of $1.03

Frontline PLC (NYSE:FRO) declared a quarterly dividend on Friday, February 27th. Investors of record on Thursday, March 12th will be paid a dividend of 1.03 per share by the shipping company on Thursday, March 19th. This represents a c) annualized dividend and a yield of 10.9%. The ex-dividend date is Thursday, March 12th. This is a 442.1% increase from Frontline’s previous quarterly dividend of $0.19.

Frontline has raised its dividend by an average of 0.8%per year over the last three years. Frontline has a dividend payout ratio of 25.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Frontline to earn $2.34 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 32.5%.

Frontline Price Performance

NYSE:FRO traded up $0.63 during mid-day trading on Friday, reaching $37.91. 6,898,306 shares of the company were exchanged, compared to its average volume of 3,056,765. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.27. The stock has a market cap of $8.44 billion, a PE ratio of 38.68 and a beta of 0.07. Frontline has a 12 month low of $12.40 and a 12 month high of $37.97. The company has a fifty day moving average of $27.38 and a 200 day moving average of $24.40.

Frontline (NYSE:FRO) last announced its earnings results on Friday, February 27th. The shipping company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.10). The company had revenue of $424.51 million for the quarter, compared to analyst estimates of $456.90 million. Frontline had a return on equity of 8.89% and a net margin of 12.23%.Frontline’s revenue for the quarter was up 46.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.20 earnings per share. On average, research analysts anticipate that Frontline will post 1.78 EPS for the current fiscal year.

About Frontline

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.