The John Fredriksen-controlled shipowner reported earnings of $25.1m for the three months ended December, compared to $34.6m in the corresponding period of 2013.
Revenue for the quarter was boosted to $88.7m, up from $83.2m.
It will pay shareholders $0.42 per share, which is $0.01 higher than the dividend it declared for the previous quarter.
This is SFL's forty-fourth consecutive quarterly pay-out.
In a year during which the diversified company added 16 units and offloaded nine, revenue rose to $327.5m
