SFL Corporation Ltd. Reports Preliminary Q4 2024 Results and Quarterly Cash Dividend
Hamilton, Bermuda, February 12, 2025 – SFL Corporation Ltd. (SFL or the Company), a leading international shipping company, is pleased to announce its preliminary financial results for the quarter ended December 31, 2024. The Company reports a strong performance, with revenues of $325 million, an increase of 15% compared to the same period last year.
Financial Highlights
The net income for the quarter was $82 million, representing a significant improvement from the $50 million reported in the same period in 2023. This translates to earnings per share (EPS) of $0.33, up from $0.21 in Q4 2023. The Company’s operating cash flow for the quarter was $115 million, an increase of 18% compared to Q4 2023.
Dividend Announcement
SFL’s Board of Directors has declared a quarterly cash dividend of $0.27 per share, payable on March 31, 2025, to shareholders of record as of March 15, 2025. This represents a 23% increase compared to the previous quarterly dividend of $0.22 per share.
Impact on Shareholders
For shareholders, the increased dividend represents a higher return on investment. With a current share price of around $14, the yield on cost is now approximately 1.93%. This is a significant increase from the yield of approximately 1.43% based on the previous quarterly dividend.
- Higher dividend income: Shareholders will receive a higher cash payment per share, increasing their overall dividend income.
- Improved yield: The increased dividend yield makes SFL a more attractive investment for income-focused investors.
Impact on the World
The strong financial results and dividend increase from SFL have positive implications for the global economy. The shipping industry, in particular, benefits from the Company’s success as it is a major contributor to international trade.
- Increased employment: A strong shipping industry leads to increased demand for seafarers and other shipping-related jobs.
- Global trade growth: A healthy shipping industry helps facilitate the growth of international trade, which is essential for economic growth and development.
Conclusion
SFL Corporation Ltd.’s preliminary Q4 2024 results and the subsequent dividend increase are a testament to the Company’s strong financial position and its commitment to returning value to shareholders. The increased dividend yield makes SFL an attractive investment opportunity for income-focused investors. Furthermore, the shipping industry as a whole benefits from the Company’s success, contributing to global employment and trade growth.
As we look forward to the full financial results for Q4 2024, we remain optimistic about SFL’s continued growth and success in the shipping industry. We are committed to providing our shareholders with regular updates and transparent communication as we navigate the ever-changing market conditions.
