Golden Ocean Group said on May 16, 2023 that its board of directors declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Previously, the company paid $0.10 per share.

Shares must be purchased before the ex-div date of May 25, 2023 to qualify for the dividend. Shareholders of record as of May 26, 2023 will receive the payment on June 6, 2023.

At the current share price of $8.46 / share, the stock's dividend yield is 4.73%.

Looking back five years and taking a sample every week, the average dividend yield has been 17.19%, the lowest has been 4.05%, and the highest has been 46.88%. The standard deviation of yields is 12.94 (n=189).

The current dividend yield is 0.96 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.72. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 4.08%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 202 funds or institutions reporting positions in Golden Ocean Group. This is a decrease of 2 owner(s) or 0.98% in the last quarter. Average portfolio weight of all funds dedicated to GOGL is 0.06%, a decrease of 6.69%. Total shares owned by institutions increased in the last three months by 5.05% to 46,633K shares. The put/call ratio of GOGL is 0.37, indicating a bullish outlook.

Analyst Price Forecast Suggests 45.65% Upside

As of May 11, 2023, the average one-year price target for Golden Ocean Group is 12.32. The forecasts range from a low of 9.60 to a high of $15.75. The average price target represents an increase of 45.65% from its latest reported closing price of 8.46.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Golden Ocean Group is 716MM, a decrease of 35.69%. The projected annual non-GAAP EPS is 1.23.

What are Other Shareholders Doing?

Folketrygdfondet holds 8,508K shares representing 4.24% ownership of the company. In it's prior filing, the firm reported owning 6,367K shares, representing an increase of 25.17%. The firm increased its portfolio allocation in GOGL by 163,742.60% over the last quarter.

Goldman Sachs Group holds 3,547K shares representing 1.77% ownership of the company. In it's prior filing, the firm reported owning 1,480K shares, representing an increase of 58.28%. The firm decreased its portfolio allocation in GOGL by 27.30% over the last quarter.

Geode Capital Management holds 1,331K shares representing 0.66% ownership of the company. In it's prior filing, the firm reported owning 1,270K shares, representing an increase of 4.58%. The firm increased its portfolio allocation in GOGL by 6.24% over the last quarter.

Russell Investments Group holds 1,323K shares representing 0.66% ownership of the company. In it's prior filing, the firm reported owning 1,225K shares, representing an increase of 7.41%. The firm decreased its portfolio allocation in GOGL by 82.23% over the last quarter.

Mirabella Financial Services Llp holds 1,223K shares representing 0.61% ownership of the company. In it's prior filing, the firm reported owning 922K shares, representing an increase of 24.63%. The firm increased its portfolio allocation in GOGL by 141.25% over the last quarter.

Golden Ocean Group Background Information
(This description is provided by the company.)

Golden Ocean, a leading dry bulk shipping company, owns or controls a modern fleet of 78 vessels with an average age of approximately 6 years. The Company is one of the largest publicly listed owners of Capesize vessels and has a leading position in the ice class Panamax vessel niche.