SFL Corporation Ltd. announced its preliminary financial results for the quarter ended December 31, 2022.
Highlights
- 76th consecutive quarterly dividend declared, increased to $0.24 per share
- Net profit of $48.5 million, or $0.38 per share in the fourth quarter
- Received charter hire1 of approximately $208 million in the quarter, incl. $6.9 million of profit share
- Adjusted EBITDA2 of $127.5 million from consolidated subsidiaries, plus an additional $7.9 million adjusted EBITDA2 from 49.9% owned associated companies
- Four new vessels delivered during the fourth quarter, all with long term charters to leading blue-chip customers
- Agreed sale of a 2009-built Suezmax crude oil tanker with expected delivery in the first quarter
Ole B. Hjertaker, CEO of SFL Management AS, said in a comment:
“SFL is pleased to announce yet another strong quarter, with growth in both revenues and EBITDA. Throughout 2022, we have continued building our portfolio through a combination of new long term charters on existing vessels and new acquisitions, increasing our fixed rate charter backlog to approximately $3.6 billion.
Since the inception of the Company in 2004, more than $2.5 billion has been returned to our shareholders through 76 consecutive cash dividends. And we have continuously demonstrated our ability to both renew and diversify our portfolio of assets and charters, supporting a sustainable long term distribution capacity”.
Quarterly Dividend
The Board of Directors has declared an increased quarterly cash dividend of $0.24 per share. The dividend will be paid on or around March 30, 2023, to shareholders of record as of March 15, 2023, and the ex-dividend date on the New York Stock Exchange will be March 14, 2023.
