FLEX LNG Ltd. (FLNG) to Issue Quarterly Dividend of $0.75 on December 16th

FLEX LNG Ltd. (NYSE:FLNG) announced a quarterly dividend on Tuesday, November 12th,Zacks Dividends reports. Shareholders 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 yield of 11.39%. The ex-dividend date is Wednesday, November 27th.

FLEX LNG has increased its dividend by an average of 152.6% annually over the last three years. FLEX LNG has a dividend payout ratio of 133.3% 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 $2.10 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 Stock Up 0.6 %

FLNG stock opened at $26.34 on Monday. FLEX LNG has a one year low of $22.80 and a one year high of $31.78. The company has a fifty day moving average price of $25.46 and a two-hundred day moving average price of $26.54. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 1.97.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group restated a “hold” rating and set a $24.00 price objective 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.