Frontline slashes dividend

After paying dividends of $2.75 and $3.00 for the first two quarters of 2008, Frontline Ltd. (FRO: 33.01 0.00 0.00%) has elected to pay only 50¢ for the 3rd quarter to shareholders of record on Dec. 9. As the largest publicly traded oil tanker company, Frontline has been popular with investors due to their generous dividend policy. Since 2001 FRO has paid out over $53 per share in dividends. As I have cautioned many times when discussing tanker companies, these companies pay out dividend on the amount earned in the quarter by leasing their ships on the spot market. These dividend will vary wildly and the patient investor will be rewarded, but there will be some bumps along the way.
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Original Source: timplaehn.com

  28 November, 2008| Fundamental Analysis | @ 3:04

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