Golden Ocean Group Limited Plans Quarterly Dividend of $0.15 (NASDAQ:GOGL)

Golden Ocean Group Limited (NASDAQ:GOGL) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Investors of record on Tuesday, March 11th will be given a dividend of 0.15 per share by the shipping company on Friday, March 21st. This represents a $0.60 dividend on an annualized basis and a yield of 6.09%. The ex-dividend date of this dividend is Tuesday, March 11th.

Golden Ocean Group has decreased its dividend by an average of 9.1% annually over the last three years. Golden Ocean Group has a payout ratio of 71.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Golden Ocean Group to earn $0.95 per share next year, which means the company may not be able to cover its $1.20 annual dividend with an expected future payout ratio of 126.3%.

Golden Ocean Group Trading Up 0.3 %

Golden Ocean Group stock opened at $9.85 on Friday. The business has a 50-day simple moving average of $9.16 and a two-hundred day simple moving average of $10.64. Golden Ocean Group has a 52-week low of $8.52 and a 52-week high of $15.77. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.65. The company has a market cap of $1.97 billion, a P/E ratio of 8.14 and a beta of 1.16.

Golden Ocean Group (NASDAQ:GOGL) last announced its earnings results on Wednesday, November 27th. The shipping company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Golden Ocean Group had a net margin of 23.89% and a return on equity of 13.14%. Analysts predict that Golden Ocean Group will post 1.14 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on GOGL. Pareto Securities restated a “hold” rating and issued a $12.50 price objective on shares of Golden Ocean Group in a research note on Thursday, November 21st. Jefferies Financial Group reissued a “hold” rating and set a $10.00 price target on shares of Golden Ocean Group in a report on Wednesday.

About Golden Ocean Group

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels worldwide. The company’s dry bulk vessels comprise Newcastlemax, Capesize, and Panamax vessels operating in the spot and time charter markets. It also transports a range of bulk commodities, including ores, coal, grains, and fertilizers.