Cool Company Ltd. (NYSE:CLCO) to Issue Dividend of $0.41

Cool Company Ltd. (NYSE:CLCO) announced a dividend on Friday, May 24th, investing.com reports. Shareholders of record on Monday, June 3rd will be paid a dividend of 0.41 per share on Monday, June 10th. This represents a dividend yield of 13.75%. The ex-dividend date is Friday, May 31st.

Cool has a dividend payout ratio of 79.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Cool to earn $1.94 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 84.5%.

Cool Price Performance

CLCO opened at $13.13 on Friday. The stock has a 50-day moving average price of $11.31 and a 200-day moving average price of $11.84. Cool has a 12-month low of $10.34 and a 12-month high of $14.50. The company has a current ratio of 0.53, a quick ratio of 0.51 and a debt-to-equity ratio of 1.07.

About Cool

Cool Company Ltd. engages in the acquisition, ownership, operation, and chartering of liquefied natural gas carriers (LNGCs). As of December 31, 2023, it owned a fleet of eleven LNGCs, including seven modern tri-fuel diesel electric vessels; two modern 2-stroke and two TFDE vessels; and managed 17 LNGCs and floating storage and regasification units for third parties.