SFL (SFL) Declares $0.24 Dividend

SFL said on May 15, 2023 that its board of directors declared a regular quarterly dividend of $0.24 per share ($0.96 annualized). Previously, the company paid $0.24 per share.

Shares must be purchased before the ex-div date of June 15, 2023 to qualify for the dividend. Shareholders of record as of June 16, 2023 will receive the payment on June 30, 2023.

At the current share price of $8.59 / share, the stock's dividend yield is 11.18%.

Looking back five years and taking a sample every week, the average dividend yield has been 9.86%, the lowest has been 6.71%, and the highest has been 20.03%. The standard deviation of yields is 1.88 (n=236).

The current dividend yield is 0.70 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.82. 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.

The company's 3-Year dividend growth rate is -0.31%.

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What is the Fund Sentiment?

There are 328 funds or institutions reporting positions in SFL. This is a decrease of 19 owner(s) or 5.48% in the last quarter. Average portfolio weight of all funds dedicated to SFL is 0.05%, an increase of 18.85%. Total shares owned by institutions increased in the last three months by 4.07% to 49,345K shares. The put/call ratio of SFL is 0.25, indicating a bullish outlook.

Analyst Price Forecast Suggests 50.09% Upside

As of May 11, 2023, the average one-year price target for SFL is 12.89. The forecasts range from a low of 11.11 to a high of $16.80. The average price target represents an increase of 50.09% from its latest reported closing price of 8.59.

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

The projected annual revenue for SFL is 704MM, an increase of 2.52%. The projected annual non-GAAP EPS is 0.94.

What are Other Shareholders Doing?

Bank of New York Mellon holds 3,926K shares representing 2.83% ownership of the company. In it's prior filing, the firm reported owning 1,938K shares, representing an increase of 50.65%. The firm decreased its portfolio allocation in SFL by 76.99% over the last quarter.

IWM - iShares Russell 2000 ETF holds 2,683K shares representing 1.94% ownership of the company. In it's prior filing, the firm reported owning 2,542K shares, representing an increase of 5.26%. The firm decreased its portfolio allocation in SFL by 3.26% over the last quarter.

Lsv Asset Management holds 2,333K shares representing 1.68% ownership of the company. In it's prior filing, the firm reported owning 2,459K shares, representing a decrease of 5.38%. The firm decreased its portfolio allocation in SFL by 0.56% over the last quarter.

Arrowstreet Capital, Limited Partnership holds 1,722K shares representing 1.24% ownership of the company. No change in the last quarter.

Goldman Sachs Group holds 1,622K shares representing 1.17% ownership of the company. In it's prior filing, the firm reported owning 1,360K shares, representing an increase of 16.20%. The firm decreased its portfolio allocation in SFL by 65.96% over the last quarter.

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

SFL has a unique track record in the maritime industry and has paid dividends every quarter since its initial listing on the New York Stock Exchange in 2004. The Company’s fleet of more than 80 vessels is split between tankers, bulkers, container vessels and offshore drilling rigs. SFL’s long term distribution capacity is supported by a portfolio of long term charters and significant growth in the asset base over time.

This story originally appeared on Fintel.