TORM plc (TRMD) to Issue Quarterly Dividend of $1.46 on December 5th

TORM plc (NASDAQ:TRMD) announced a quarterly dividend on Friday, November 10th, NASDAQ reports. Investors of record on Wednesday, November 22nd will be paid a dividend of 1.46 per share on Tuesday, December 5th. This represents a $5.84 annualized dividend and a yield of 17.64%. The ex-dividend date of this dividend is Tuesday, November 21st. This is an increase from TORM’s previous quarterly dividend of $0.85.

TORM has a payout ratio of 38.3% indicating that its dividend is sufficiently covered by earnings.

TORM Trading Up 5.0 %

Shares of TORM stock opened at $33.11 on Friday. TORM has a 1-year low of $22.31 and a 1-year high of $36.60. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.79 and a quick ratio of 1.61. The stock has a market cap of $2.70 billion, a P/E ratio of 4.09 and a beta of 0.31. The stock’s 50 day simple moving average is $28.64 and its 200-day simple moving average is $26.57.

TORM (NASDAQ:TRMD) last released its quarterly earnings data on Thursday, August 17th. The company reported $2.14 earnings per share for the quarter. TORM had a return on equity of 43.97% and a net margin of 43.82%. The company had revenue of $384.30 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Credit Suisse AG raised its stake in TORM by 1.7% during the fourth quarter. Credit Suisse AG now owns 22,583 shares of the company’s stock worth $4,480,000 after purchasing an additional 377 shares during the period. Geode Capital Management LLC lifted its stake in shares of TORM by 0.9% in the 1st quarter. Geode Capital Management LLC now owns 71,485 shares of the company’s stock valued at $2,225,000 after purchasing an additional 616 shares during the last quarter. Advisor Group Holdings Inc. increased its position in shares of TORM by 58.6% during the 4th quarter. Advisor Group Holdings Inc. now owns 2,405 shares of the company’s stock worth $71,000 after purchasing an additional 889 shares during the last quarter. Deutsche Bank AG raised its holdings in TORM by 7.3% in the 1st quarter. Deutsche Bank AG now owns 17,170 shares of the company’s stock valued at $535,000 after buying an additional 1,172 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in TORM by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 95,733 shares of the company’s stock valued at $2,943,000 after buying an additional 1,379 shares during the last quarter.

TORM Company Profile

TORM plc, a product tanker company, engages in the transportation of refined oil products and crude oil worldwide. It operates in two operating segments, Tanker and Marine Exhaust. The company transports gasoline, jet fuel, naphtha, and gas oil, as well as dirty petroleum products, such as fuel oil. It also engages in developing and producing advanced and green marine equipment.