Looking for a good high-yield energy play? With Europe's shift from Russian energy supplies, there has been a lot of disruption in the energy market in 2022, leading to higher prices for LNG vessels. Management declared another $.75 quarterly dividend, plus a $.50 special dividend. Q2 2022 revenues grew 28% vs. Q2 '21. Adjusted net income rose more than 36%. Its backlog is a minimum of 54 years.
Flex LNG Ltd. (NYSE:FLNG), through its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. As of 6/30/2022, it owned and operated 9 M-type electronically controlled gas injection LNG carriers, and 4 vessels with generation X dual fuel propulsion systems. It also provides chartering and management services. Flex LNG Ltd. was incorporated in 2006 and is based in Hamilton, Bermuda. FLNG has one of the youngest fleets in the LNG shipping sub-industry - ranging in newbuild dates from 2018 to 2021.
Source: Seeking Alpha
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