SFL Celebrates 90th Consecutive Dividend and Achieves Record-High EBITDA Cash Flow
SFL, a leading maritime infrastructure company, has just celebrated its 90th consecutive dividend payment. This impressive milestone was announced during the company's Q2 2026 conference call, where CEO Ole Hjertaker highlighted the quarter's key achievements.
In addition to this notable achievement, SFL also reported a record-high EBITDA equivalent cash flow of $130 million in the second quarter, which represents a 20% increase over the first quarter. This significant growth reflects the company's continued strength and stability in its operations. Over the past 12 months, EBITDA amounts to $461 million.
The company's financial performance was also reflected in its net income for the quarter, which came in at $34 million, or $0.25 per share. The dividend declared is $0.22 per share, and as a result of this long history of dividend payments, SFL has now returned more than $32 per share to shareholders since 2004.
Another significant development during the quarter was the chartering of two older car carriers, SFL Conductor and SFL Composer, on new three-year charters. These vessels were previously employed under a long-term charter with Volkswagen but have now been secured by SFL for another three years. The new charter adds $83 million to the company's charter backlog.
Further evidence of SFL's success in the car carrier market can be seen in its recent order of four dual-fuel 7,000 CEU capacity car carriers. These vessels have been chartered out on five plus five-year charters to a major Asia-based car manufacturer, adding $150 million to the company's charter backlog, which could potentially increase to $300 million if the optional period is declared.
SFL also utilized its ATM and DRIP programs to raise an aggregate of $100 million in equity during the second and third quarters. This capital was raised at a premium to the volume-weighted average price, allowing SFL to add investment capacity with limited dilution compared to an ordinary share offering.
The company has had significant benefits from its modern Suezmax crude oil tankers, which have been employed in a booming spot market. These vessels were previously on a long-term charter at around $30,000 per day until December last year and have since contributed to the company's financial performance.
With a robust charter backlog of $3.8 billion and a strong counterparty profile, SFL is well-positioned for continued growth and success in the maritime infrastructure market.
