Why SFL Shares Sank 15% Today
Maritime ship and offshore asset owner SFL (NYSE: SFL) reported earnings and a dividend cut today. Investors in turn cut the share price, which closed down 15% from Wednesday's closing price.
Even with the lower dividend, shares are yielding over 9% at their current price.
The company reported $16 million of net income in its third quarter, and CEO Ole B. Hjertaker issued a statement saying that after the initial disruption of world trade due to the coronavirus pandemic, the company has not "had any material operational impact on our 84 vessels."
Source Fool.com