TORM plc (NASDAQ:TRMD) Raises Dividend to $1.50 Per Share

TORM plc (NASDAQ:TRMDGet Free Report) announced a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Investors of record on Wednesday, May 22nd will be paid a dividend of 1.50 per share on Tuesday, June 4th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 15.72%. The ex-dividend date of this dividend is Tuesday, May 21st. This is an increase from TORM’s previous quarterly dividend of $1.36.

TORM has increased its dividend by an average of 102.0% annually over the last three years. TORM has a dividend payout ratio of 96.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect TORM to earn $5.07 per share next year, which means the company may not be able to cover its $6.00 annual dividend with an expected future payout ratio of 118.3%.

TORM Price Performance

NASDAQ:TRMD opened at $38.16 on Friday. The company has a quick ratio of 2.37, a current ratio of 2.60 and a debt-to-equity ratio of 0.53. The firm has a market cap of $3.11 billion, a PE ratio of 5.12 and a beta of 0.16. TORM has a 12 month low of $22.31 and a 12 month high of $38.30. The company’s 50-day moving average price is $34.78 and its two-hundred day moving average price is $33.04.

TORM (NASDAQ:TRMDGet Free Report) last announced its earnings results on Thursday, March 7th. The company reported $1.56 EPS for the quarter. TORM had a return on equity of 36.99% and a net margin of 42.64%. The business had revenue of $387.78 million for the quarter. On average, equities analysts anticipate that TORM will post 7.35 EPS for the current fiscal year.

TORM Company Profile

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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.

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Dividend History for TORM (NASDAQ:TRMD)

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