Golden Ocean Group Limited (GOGL) To Go Ex-Dividend on March 11th

Golden Ocean Group Limited (NASDAQ:GOGL) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Investors of record on Tuesday, March 11th will be paid 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 6.19%. The ex-dividend date is Tuesday, March 11th.

Golden Ocean Group has decreased its dividend by an average of 9.1% per year over the last three years. Golden Ocean Group has a payout ratio of 71.0% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of NASDAQ GOGL traded down $0.15 during trading on Friday, hitting $9.70. 7,295,906 shares of the company were exchanged, compared to its average volume of 2,181,882. The firm’s fifty day moving average price is $9.16 and its 200 day moving average price is $10.64. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 8.02 and a beta of 1.16. Golden Ocean Group has a 1 year low of $8.52 and a 1 year high of $15.77.

Golden Ocean Group (NASDAQ:GOGL) last issued its earnings results on Wednesday, November 27th. The shipping company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. Golden Ocean Group had a net margin of 23.89% and a return on equity of 13.14%. On average, sell-side analysts expect that Golden Ocean Group will post 1.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Jefferies Financial Group reissued a “hold” rating and issued a $10.00 target price on shares of Golden Ocean Group in a report on Wednesday. Pareto Securities reissued a “hold” rating and issued a $12.50 price objective on shares of Golden Ocean Group in a research note on Thursday, November 21st.

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.