TORM plc (NASDAQ:TRMD – Get Free Report) announced a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Shareholders 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 yield of 16.52%. The ex-dividend date is Tuesday, May 21st. This is a boost 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 payout ratio of 81.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.
TORM Trading Up 1.4 %
Shares of TRMD stock opened at $36.31 on Friday. TORM has a fifty-two week low of $22.31 and a fifty-two week high of $37.11. The company has a 50 day moving average price of $34.23 and a 200 day moving average price of $32.69. The stock has a market capitalization of $2.96 billion, a P/E ratio of 4.87 and a beta of 0.16. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.37 and a current ratio of 2.60.
About TORM
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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