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Why SFL Shares Sank 15% Today

TheMotleyFool

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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

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