SFL Corporation Ltd
NYSE:SFL

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SFL Corporation Ltd
NYSE:SFL
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Price: 8.31 USD 0.12% Market Closed
Market Cap: 1.2B USD

Earnings Call Transcript

Transcript
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O
Ole Hjertaker
executive

My name is Ole Hjertaker, and I am the CEO in SFL Corporation. We are very proud to celebrate 20 years of profitability and dividends and it should come as no surprise that we increased the dividend again.

There will be an earnings webcast at 10 a.m. Eastern Time or 4 p.m. Central European Time. Please check our website for details.

The charter revenues and EBITDA was in line with the previous quarter as our assets continue to deform on long-term charters. We have now taken delivery of 3 new built dual-fuel Car Carriers and will have full cash flow effect on all from the second quarter onwards.

The drilling rig Hercules arrived in Namibia during the quarter. And since then, it has made a significant oil discovery for our customer, Galp Energia. We do expect increased drilling revenues from the rig in the first quarter.

And in line with the improved results and commitment to return value to shareholders, we are increasing the quarterly dividend to $0.26 per share, up from $0.25 per share in the third quarter. So to sum it up, we are now celebrating our 80th dividend and have a unique profile as a maritime infrastructure company with a diversified fleet. This has enabled us to be profitable from operations and pay dividends every single quarter since inception in 2004, which is quite unique in our industry.

The announced $0.26 dividend represent a dividend yield of nearly 9% and our $3.2 billion backlog should support continued long-term dividend capacity. You will find the link to access the earnings webcast in a press release on our website. Thank you.

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