SFL Corporation Boosts Dividend to $0.22 After $108M Q1 EBITDA
SFL Corporation reported Q1 revenue of $174 million, adjusted EBITDA of $108 million and net income of $26 million ($0.20 per share). It raised its 89th consecutive quarterly dividend to $0.22 per share, secured a $170 million drilling contract and refinanced rigs with $250 million in credit facilities.
1. Q1 Financial Performance
SFL Corporation recorded total operating revenues of $174 million for Q1 2026, with adjusted EBITDA of $108 million (including $8 million from associated companies) and net income of $26 million, or $0.20 per share.
2. Dividend Declaration
The board declared its 89th consecutive quarterly dividend, increasing the payout to $0.22 per share payable around June 22, with record and ex-dividend dates set for May 27, 2026.
3. Fleet Contracts and Financing
The company secured a $170 million drilling contract for the semi-submersible rig Hercules, refinanced the Linus and Hercules rigs under $250 million of new credit facilities, and completed a $75 million bond tap subsequent to quarter end.