Bermuda-based Ship Finance International Ltd. announced net income of $43.6 million, or 55 cents per share, for the second quarter.

Its board of directors declared an increased quarterly dividend of 35 cents per share. This is the second dividend increase in 2010 and the company has now paid dividends for the last 26 consecutive quarters.

Reported net operating income for the quarter was $50.1 million, or 63 cents per share.

Accrued profit share in the second quarter was $11.4 million, or $0.14 per share. Total accrued profit share for the first half of 2010 is $22.7 million.

The company had agreed to acquire three 57,000 dwt Supramax dry bulk carriers for a total investment of $100.7 million. The vessels have been chartered by an Asia-based logistics company on long-term time charters at approximately $17,000 per day, adding approximately $160 million to SFL's fixed-rate charter backlog.