TORM plc (TRMD) To Go Ex-Dividend on March 20th

TORM plc (NASDAQ:TRMD) declared a quarterly dividend on Thursday, March 6th, Wall Street Journal reports. Shareholders of record on Thursday, March 20th will be paid a dividend of 0.60 per share on Wednesday, April 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 12.59%. The ex-dividend date of this dividend is Thursday, March 20th.

TORM has a payout ratio of 137.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect TORM to earn $3.58 per share next year, which means the company may not be able to cover its $4.80 annual dividend with an expected future payout ratio of 134.1%.

TORM Trading Down 1.7 %

Shares of TRMD stock opened at $19.06 on Friday. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 2.47 and a beta of 0.14. The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51. TORM has a fifty-two week low of $16.76 and a fifty-two week high of $40.47. The firm’s 50 day moving average price is $19.80 and its two-hundred day moving average price is $25.11.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reduced their target price on shares of TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th.

TORM Company Profile

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.