Golden Ocean Group Limited (NASDAQ:GOGL – Get Free Report) announced a quarterly dividend on Wednesday, August 28th, Zacks reports. Investors of record on Wednesday, September 11th will be given a dividend of 0.30 per share by the shipping company on Friday, September 20th. This represents a $1.20 dividend on an annualized basis and a yield of 9.75%. The ex-dividend date is Wednesday, September 11th.
Golden Ocean Group has raised its dividend by an average of 115.4% annually over the last three years. Golden Ocean Group has a dividend payout ratio of 74.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Golden Ocean Group to earn $1.75 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 68.6%.
Golden Ocean Group Trading Up 1.8 %
GOGL stock traded up $0.22 during mid-day trading on Thursday, reaching $12.31. 1,172,949 shares of the stock traded hands, compared to its average volume of 1,627,823. The stock has a market capitalization of $2.46 billion, a PE ratio of 13.22 and a beta of 1.16. The business has a 50-day moving average price of $12.78 and a two-hundred day moving average price of $13.12. Golden Ocean Group has a one year low of $7.09 and a one year high of $15.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.25 and a current ratio of 1.25.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the company. StockNews.com lowered Golden Ocean Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Jefferies Financial Group reduced their target price on Golden Ocean Group from $15.50 to $14.50 and set a “hold” rating on the stock in a research report on Wednesday.
View Our Latest Stock Analysis on GOGL
Golden Ocean Group Company Profile
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.
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