FTAI Infrastructure Inc. (NASDAQ:FIP) Stock to Pay Quarterly Dividend of $0.03

FTAI Infrastructure Inc. (NASDAQ:FIP) announced a quarterly dividend on Wednesday, November 4th. Shareholders of record on Monday, November 23rd will be paid a dividend of $0.03 per share on Monday, December 7th. This represents a $0.12 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Monday, November 23rd.

FTAI Infrastructure has a payout ratio of -16.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

FTAI Infrastructure Price Performance

FIP opened at $2.94 on Friday. The firm has a 50 day simple moving average of $2.89 and a 200 day simple moving average of $4.46. The company has a market cap of $347.46 million, a price-to-earnings ratio of -0.57 and a beta of 1.82. FTAI Infrastructure has a fifty-two week low of $2.23 and a fifty-two week high of $6.69.

FTAI Infrastructure (NASDAQ:FIP) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.72). The firm had revenue of $218.97 million during the quarter, compared to analyst estimates of $195.03 million.

About FTAI Infrastructure

FTAI Infrastructure Inc is an infrastructure company that owns and operates critical transportation and energy assets. Its portfolio is designed to support the movement, storage and processing of essential commodities and industrial products, with a focus on long-lived infrastructure that serves industrial and logistics customers.

The company’s businesses include Transtar, an industrial rail network serving manufacturing facilities, ports and other freight customers; Jefferson Terminal, a multimodal port and logistics facility on the U.S.