SFL announced Q2 2024 net profit of $20.6 million, declared $0.27 dividend, expanded fleet
From GlobeNewswire.: 2024-08-14 06:12:00
SFL Corporation Ltd. announced its Q2 2024 financial results, including a net profit of $20.6 million. The quarterly cash dividend was declared at $0.27 per share, marking 82 consecutive quarters of dividends. The company received charter hire of $198.8 million, with adjusted EBITDA of $123.3 million from subsidiaries. New vessel deliveries and orders were highlighted, with a focus on LNG dual-fuel vessels. Additionally, the company issued 8 million common shares in a U.S. public offering.CEO Ole B. Hjertaker expressed satisfaction with the company’s growth strategy, adding over $2 billion to the charter backlog in 2024. The charter backlog is now nearly $5 billion, reflecting vessel acquisitions and extensions. SFL continues to diversify its asset mix and expand its customer base, transitioning from a financing provider to facilitating maritime infrastructure for logistics companies. Key investments included newbuild container vessels with LNG dual-fuel technology.Next, the Board of Directors declared a quarterly cash dividend of $0.27 per share, to be paid on or around September 27. The record date and ex-dividend date on the New York Stock Exchange are set for September 11. A webcast and presentation are scheduled for investors and analysts to discuss the Q2 results. CEO Ole Hjertaker also released a video discussing the highlights of the quarter. Information on how to access the webcast and presentation is available on the company’s website.Founded in 2004, SFL Corporation Ltd. has a history of paying dividends every quarter and a diverse fleet of tanker vessels, bulkers, container vessels, car carriers, and offshore drilling rigs. The company’s long-term distribution capacity is supported by a portfolio of long-term charters and asset growth over time. More information can be found on SFL’s website. SFL cautions regarding forward-looking statements based on various assumptions, including market conditions and governmental regulations, stating that actual results may differ from the projected forward-looking statements.
Read more at GlobeNewswire.:: SFL – Second Quarter 2024 Results