TORM plc (NASDAQ:TRMD) Declares Quarterly Dividend of $1.36

TORM plc (NASDAQ:TRMD) announced a quarterly dividend on Thursday, March 7th, Wall Street Journal reports. Stockholders of record on Tuesday, April 16th will be paid a dividend of 1.36 per share on Wednesday, April 24th. This represents a $5.44 annualized dividend and a dividend yield of 15.40%. The ex-dividend date is Monday, April 15th.

TORM has increased its dividend payment by an average of 94.7% annually over the last three years. TORM has a payout ratio of 85.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

TORM Stock Down 1.4 %

Shares of TRMD stock opened at $35.33 on Friday. The firm has a fifty day moving average of $34.25 and a 200-day moving average of $31.92. The company has a quick ratio of 2.37, a current ratio of 2.60 and a debt-to-equity ratio of 0.53. TORM has a 12-month low of $22.31 and a 12-month high of $37.11. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 4.74 and a beta of 0.15.

TORM (NASDAQ:TRMD) last issued its quarterly earnings data on Thursday, March 7th. The company reported $1.56 earnings per share (EPS) for the quarter. TORM had a net margin of 42.64% and a return on equity of 36.99%. The company had revenue of $387.78 million during the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TRMD. Advisor Group Holdings Inc. grew its position in shares of TORM by 58.6% in the 4th quarter. Advisor Group Holdings Inc. now owns 2,405 shares of the company’s stock valued at $71,000 after acquiring an additional 889 shares during the period. Royal Bank of Canada acquired a new position in shares of TORM during the 2nd quarter worth about $88,000. JPMorgan Chase & Co. acquired a new position in shares of TORM during the 1st quarter worth about $103,000. Citigroup Inc. increased its stake in shares of TORM by 61.5% during the 3rd quarter. Citigroup Inc. now owns 4,990 shares of the company’s stock worth $136,000 after purchasing an additional 1,900 shares during the last quarter. Finally, PNC Financial Services Group Inc. acquired a new position in shares of TORM during the 2nd quarter worth about $138,000. Institutional investors own 73.89% of the company’s stock.

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.