SFL - Preliminary Q1 2021 results and quarterly cash dividend of $0.15 per share
Preliminary Q1 2021 results and quarterly cash dividend of $0.15 per share
Hamilton, Bermuda, May 12, 2021. SFL Corporation Ltd. (“SFL” or the “Company”) today announced its preliminary financial results for the quarter ended March 31, 2021.
Highlights
- 69th consecutive quarterly dividend declared,
$0.15 per share - Operating revenue of approximately
$109.1 million , and net profit of$31.5 million in the first quarter - Received charter hire1 of approximately
$135 million in the quarter from the Company’s vessels and rigs, including$2.6 million of profit share - Adjusted EBITDA2 of
$83.9 million from consolidated subsidiaries, plus an additional$13.8 million adjusted EBITDA2 from associated companies - Agreement to acquire a 2020-built 5,300 TEU vessel in combination with a 7 year charter to Maersk Line
- Agreement to build 2x 7,000 CEU LNG dual fuel car carriers in combination with 10 year charters to the Volkswagen Group
- Placement of
$150 million senior unsecured sustainability-linked bond
Ole B. Hjertaker, CEO of SFL Management AS, said in a comment:
«We are pleased to execute on our commitment to invest in assets and markets with a lower carbon footprint, as evidenced by our recent agreement to build and charter out dual-fuel car carriers, adding more than
The Company has also recently addressed the refinancing of our convertible bond maturing in October with the successful placement of a new
Over the last 10 years, SFL’s fleet has transitioned from tankers and offshore assets to now mainly containerships and dry bulk vessels. Our cash flow visibility is very good with more than
Quarterly Dividend
The Board of Directors has declared a quarterly cash dividend of
May 12, 2021
The Board of Directors
SFL Corporation Ltd.
Hamilton, Bermuda
The full report can be found in the link below and at the Company’s website www.sflcorp.com.
Questions can be directed to SFL Management AS:
Investor and Analyst Contact
Aksel C. Olesen, Chief Financial Officer: +47 23114036
André Reppen, Chief Treasurer and Senior Vice President: +47 23114055
Marius Furuly, Vice President - Finance: +47 23114016
Media Contact
Ole B. Hjertaker, Chief Executive Officer: +47 23114011
About SFL
SFL has a unique track record in the maritime industry and has paid dividends every quarter since its initial listing on the New York Stock Exchange in 2004. The Company’s fleet of more than 80 vessels is split between tankers, bulkers, container vessels and offshore drilling rigs. SFL’s long term distribution capacity is supported by a portfolio of long term charters and significant growth in the asset base over time. More information can be found on the Company's website www.sflcorp.com.
