Preliminary Q2 2022 results and increased quarterly cash dividend of $0.23 per
share
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Hamilton, Bermuda, August 17, 2022. SFL Corporation Ltd. ("SFL" or the
"Company") today announced its preliminary financial results for the quarter
ended June 30, 2022.
Highlights
* 74(th) consecutive quarterly dividend declared, $0.23 per share
* Net profit of $57.4 million, or $0.45 per share in the second quarter
* Received charter hire(1) of approximately $164.9 million in the quarter from
the Company's vessels and rigs, including $5.2 million of profit share
* Adjusted EBITDA(2) of $115.8 million from consolidated subsidiaries, plus an
additional $7.8 million adjusted EBITDA(2) from associated companies
* Sale and delivery of two 2004 built VLCCs and a 2003 built feeder
containership in the quarter, generating approximately $13.2 million in book
gain
* Agreement to acquire four modern Suezmax tankers in combination with 6-year
charters to a subsidiary of Koch Industries, a world leading industrial
conglomerate
Ole B. Hjertaker, CEO of SFL Management AS, said in a comment:
«We are pleased to report another strong quarter as we continue to renew, grow
and diversify our portfolio. So far in 2022 we have added approximately $1.3
billion to our fixed-rate backlog, with several new blue-chip customers, such as
Trafigura, Hapag-Lloyd, ConocoPhillips and most recently Koch Industries, with
the addition of four modern, eco-design vessels.
The dividend has now been increased for four consecutive quarters, and
approximately $2.5 billion has been returned to our shareholders since 2004. We
aim to continue investing in new accretive assets and build our charter backlog
supporting our long-term dividend distribution capacity.»
Quarterly Dividend
The Board of Directors has declared a quarterly cash dividend of $0.23 per
share. The dividend will be paid on or around September 29, to shareholders on
record as of September 15, and the ex-dividend date on the New York Stock
Exchange will be September 14, 2022.
August 17, 2022
The Board of Directors
SFL Corporation Ltd.
Hamilton, Bermuda