FRO - Frontline: An Excellent Second Quarter And Still An Attractive Dividend Investment Even At A Slightly Lower Yield
Frontline Limited (FRO) reported earnings on August 27. The company's net income has shot up astronomically year over year thanks to high charter markets in the first half of the year. The company's dividend payment was lowered from the previous quarter, despite higher earnings, but the money not spent was used to pay back debt. All in all, a great quarter for the company.
Earnings
Frontline reported earnings per share of $1.01 on $199.7 million in net income for the quarter. The company's operating revenues were also up significantly to $387.1