FLEX LNG Ltd. Announces Quarterly Dividend of $0.75 (NYSE:FLNG)

FLEX LNG Ltd. (NYSE:FLNG) declared a quarterly dividend on Tuesday, November 12th,Zacks Dividends reports. Stockholders of record on Wednesday, November 27th will be paid a dividend of 0.75 per share on Monday, December 16th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 11.47%. The ex-dividend date of this dividend is Wednesday, November 27th.

FLEX LNG has raised its dividend payment by an average of 152.6% annually over the last three years. FLEX LNG has a dividend payout ratio of 133.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect FLEX LNG to earn $2.10 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 142.9%.

FLEX LNG Trading Down 0.7 %

NYSE FLNG opened at $26.15 on Tuesday. FLEX LNG has a 1-year low of $22.80 and a 1-year high of $31.41. The stock has a 50-day moving average of $25.45 and a 200-day moving average of $26.52. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.21 and a quick ratio of 2.18.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reissued a “hold” rating and set a $24.00 price target on shares of FLEX LNG in a research report on Tuesday, November 12th.

FLEX LNG Company Profile

Flex LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. Flex LNG Ltd.