Ship Finance International Limited (NYSE:SFL) declared a quarterly dividend on Tuesday, November 20th, Zacks reports. Stockholders of record on Wednesday, December 12th will be paid a dividend of 0.35 per share by the shipping company on Friday, December 28th. This represents a $1.40 annualized dividend and a dividend yield of 10.95%. The ex-dividend date is Tuesday, December 11th.

Ship Finance International has decreased its dividend payment by an average of 0.6% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. Ship Finance International has a dividend payout ratio of 126.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Ship Finance International to earn $1.29 per share next year, which means the company may not be able to cover its $1.40 annual dividend with an expected future payout ratio of 108.5%.

Shares of SFL opened at $12.78 on Thursday. The company has a market cap of $1.57 billion, a PE ratio of 10.74 and a beta of 1.21. Ship Finance International has a twelve month low of $11.50 and a twelve month high of $15.98. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.61 and a quick ratio of 0.61.

Ship Finance International (NYSE:SFL) last issued its quarterly earnings results on Tuesday, November 20th. The shipping company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.08. The company had revenue of $111.00 million during the quarter, compared to analysts’ expectations of $114.96 million. Ship Finance International had a net margin of 22.77% and a return on equity of 9.68%. The business’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period last year, the business earned $0.31 EPS. As a group, sell-side analysts expect that Ship Finance International will post 0.94 EPS for the current fiscal year.

Several equities research analysts have recently commented on SFL shares. Zacks Investment Research downgraded Ship Finance International from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 15th. Nordea Equity Research raised Ship Finance International from a “hold” rating to a “buy” rating in a report on Thursday, September 6th. UBS Group raised Ship Finance International from a “sell” rating to a “buy” rating in a report on Thursday, November 29th. TheStreet downgraded Ship Finance International from a “b” rating to a “c+” rating in a report on Thursday, August 23rd. Finally, ValuEngine downgraded Ship Finance International from a “hold” rating to a “sell” rating in a report on Thursday, September 13th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $15.38.

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About Ship Finance International

Ship Finance International Limited owns and operates vessels and offshore related assets primarily in Bermuda, Cyprus, Malta, Liberia, Norway, the United Kingdom, and the Marshall Islands. It is also involved in the charter, purchase, and sale of assets. In addition, the company operates in various sectors of the shipping and offshore industry, including oil transportation, dry bulk shipments, chemical transportation, oil product transportation, container transportation, car transportation, drilling rigs, and offshore supply vessels.

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Dividend History for Ship Finance International (NYSE:SFL)

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