Jim Cramer Believes “FLEX LNG Dividend is Safe”

FLEX LNG Ltd. (NYSE:FLNG) is one of the stocks Jim Cramer highlighted as potential winners from the US-EU deal. Cramer highlighted that while the stock’s dividend yield is quite high, it’s still safe. He said:

“Finally, and quickly, because this isn’t my favorite part of the liquified natural gas food chain, there are a couple of companies involved in the actual transportation of LNG across the ocean and the unloading of LNG once it’s reached its destination. Take FLEX LNG, which we recently covered after a caller asked about it, and I couldn’t answer it. FLEX LNG has a fleet of 13 ships. Now, they’re specifically designed to transport liquified natural gas. At the time, I was focused on the sky-high dividend, which currently yields more than 12%. Sometimes that’s a red flag, but I think FLEX LNG dividend is safe, as they have a bunch of long-term agreements with their customers.”

Photo by Adam Nowakowski on Unsplash

FLEX LNG (NYSE:FLNG) specializes in the global seaborne transportation of liquefied natural gas, operating a fleet of advanced LNG carriers with modern dual-fuel and gas injection propulsion technologies.

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Disclosure: None. This article is originally published at Insider Monkey.