Golar Lng (GLNG) Declares $0.25 Dividend

Golar Lng said on May 30, 2023 that its board of directors declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Previously, the company paid $0.15 per share.

Shares must be purchased before the ex-div date of June 9, 2023 to qualify for the dividend. Shareholders of record as of June 12, 2023 will receive the payment on June 16, 2023.

At the current share price of $20.57 / share, the stock's dividend yield is 4.86%.

Looking back five years and taking a sample every week, the average dividend yield has been 2.43%, the lowest has been 0.67%, and the highest has been 4.69%. The standard deviation of yields is 1.05 (n=62).

The current dividend yield is 2.31 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.14. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

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What is the Fund Sentiment?

There are 415 funds or institutions reporting positions in Golar Lng. This is a decrease of 4 owner(s) or 0.95% in the last quarter. Average portfolio weight of all funds dedicated to GLNG is 0.40%, a decrease of 21.03%. Total shares owned by institutions decreased in the last three months by 0.27% to 83,178K shares. The put/call ratio of GLNG is 0.37, indicating a bullish outlook.

Analyst Price Forecast Suggests 67.85% Upside

As of May 11, 2023, the average one-year price target for Golar Lng is 34.53. The forecasts range from a low of 26.26 to a high of $47.25. The average price target represents an increase of 67.85% from its latest reported closing price of 20.57.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Golar Lng is 372MM, an increase of 39.11%. The projected annual non-GAAP EPS is 1.85.

What are Other Shareholders Doing?

Orbis Allan Gray holds 9,525K shares representing 8.87% ownership of the company. In it's prior filing, the firm reported owning 8,056K shares, representing an increase of 15.42%. The firm increased its portfolio allocation in GLNG by 10.98% over the last quarter.

Rubric Capital Management holds 6,471K shares representing 6.02% ownership of the company. In it's prior filing, the firm reported owning 6,353K shares, representing an increase of 1.82%. The firm decreased its portfolio allocation in GLNG by 42.59% over the last quarter.

Millennium Management holds 5,113K shares representing 4.76% ownership of the company. In it's prior filing, the firm reported owning 3,242K shares, representing an increase of 36.60%. The firm increased its portfolio allocation in GLNG by 54.93% over the last quarter.

Capital International Investors holds 2,916K shares representing 2.71% ownership of the company. No change in the last quarter.

SMCWX - SMALLCAP WORLD FUND INC holds 2,905K shares representing 2.70% ownership of the company. No change in the last quarter.

Golar Lng Background Information
(This description is provided by the company.)

Golar LNG is one of the world's most innovative and experienced independent owners and operators of marine LNG infrastructure. The company developed the world's first Floating LNG liquefaction terminal (FLNG) and Floating Storage and Regasification Unit (FSRU) projects based on the conversion of existing LNG carriers. Front End Engineering and Design (FEED) studies have now been completed for a larger newbuild FLNG solution. Golar is also collaborating with another industry leader to investigate solutions for the floating production of blue and green ammonia as well as carbon reduction in LNG production.

This story originally appeared on Fintel.