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

Flex LNG Ltd. (NYSE:FLNG) announced a quarterly dividend on Tuesday, November 11th. Stockholders of record on Friday, November 28th will be given a dividend of 0.75 per share on Thursday, December 11th. This represents a c) annualized dividend and a dividend yield of 12.0%. The ex-dividend date is Friday, November 28th.

Flex LNG has increased its dividend 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. 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 opened at $25.01 on Thursday. The company has a quick ratio of 2.81, a current ratio of 2.84 and a debt-to-equity ratio of 2.23. The stock has a market capitalization of $1.35 billion, a PE ratio of 13.59 and a beta of 0.49. The firm’s 50 day moving average price is $25.39 and its 200-day moving average price is $24.65. Flex LNG has a twelve month low of $19.46 and a twelve month high of $27.67.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in Flex LNG by 29.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 10,809 shares of the company’s stock worth $272,000 after acquiring an additional 2,472 shares during the last quarter. Regal Partners Ltd purchased a new position in shares of Flex LNG in the third quarter valued at $264,000. Dimensional Fund Advisors LP bought a new stake in Flex LNG in the third quarter worth $9,497,000. Quantbot Technologies LP purchased a new stake in Flex LNG during the third quarter valued at $260,000. Finally, Dakota Wealth Management lifted its position in Flex LNG by 10.3% during the third quarter. Dakota Wealth Management now owns 33,385 shares of the company’s stock valued at $841,000 after purchasing an additional 3,130 shares during the last quarter.

Flex LNG Company Profile

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.