TORM plc (TRMD) To Go Ex-Dividend on November 21st

TORM plc (NASDAQ:TRMD) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders of record on Thursday, November 21st will be given a dividend of 0.876 per share on Wednesday, December 4th. This represents a $3.50 dividend on an annualized basis and a yield of 14.96%. The ex-dividend date of this dividend is Thursday, November 21st.

TORM has raised its dividend payment by an average of 102.0% per year over the last three years. TORM has a payout ratio of 90.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect TORM to earn $5.07 per share next year, which means the company should continue to be able to cover its $4.80 annual dividend with an expected future payout ratio of 94.7%.

TORM Price Performance

Shares of NASDAQ TRMD opened at $23.43 on Tuesday. TORM has a 52-week low of $22.72 and a 52-week high of $40.47. The stock’s fifty day simple moving average is $30.01 and its 200 day simple moving average is $34.56. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 2.47.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Evercore ISI lifted their target price on TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Fearnley Fonds upgraded TORM to a “hold” rating in a research note on Friday, September 27th. Finally, Jefferies Financial Group decreased their price target on shares of TORM from $37.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, November 14th.

TORM Company Profile

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.