CF Industries Holdings, Inc. (NYSE:CF) Announces Quarterly Dividend of $0.60

Key Points

• CF Industries declared a quarterly dividend of $0.60 per share, payable on August 31 to shareholders of record on August 14. The dividend is up 20% from the prior $0.50 quarterly payout.
• The new payout implies an annualized dividend yield of about 2.1%, and CF’s dividend appears well covered with a 32.2% payout ratio. Analysts also expect earnings to support the dividend going forward.
• Shares of CF Industries recently traded at $116.99, and the stock has a consensus analyst rating of “Hold” with an average price target of $117.25. Recent analyst moves have been mixed, with several firms raising or lowering targets.

CF Industries Holdings, Inc. (NYSE:CF - Get Free Report) declared a quarterly dividend on Wednesday, July 8th. Shareholders of record on Friday, August 14th will be given a dividend of 0.60 per share by the basic materials company on Monday, August 31st. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, August 14th. This is a 20.0% increase from CF Industries's previous quarterly dividend of $0.50.

CF Industries has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 3 consecutive years. CF Industries has a payout ratio of 32.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect CF Industries to earn $11.23 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 17.8%.

CF Industries Price Performance

Shares of NYSE:CF opened at $116.99 on Thursday. The firm's 50 day moving average is $114.82 and its two-hundred day moving average is $107.51. The firm has a market capitalization of $17.97 billion, a P/E ratio of 10.51 and a beta of 0.40. The company has a current ratio of 3.54, a quick ratio of 3.15 and a debt-to-equity ratio of 0.39. CF Industries has a 52 week low of $75.42 and a 52 week high of $141.96.

Analyst Upgrades and Downgrades

CF has been the subject of a number of recent analyst reports. Barclays increased their price objective on CF Industries from $130.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. BNP Paribas Exane reduced their price target on CF Industries from $140.00 to $120.00 and set a "neutral" rating for the company in a research report on Monday, June 15th. Berenberg Bank increased their price target on CF Industries from $86.00 to $106.00 and gave the stock a "hold" rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. raised their price target on CF Industries from $94.00 to $115.00 and gave the company a "neutral" rating in a report on Wednesday, June 3rd. Finally, Morgan Stanley cut their price objective on shares of CF Industries from $135.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, CF Industries has an average rating of "Hold" and a consensus target price of $117.25.

About CF Industries

CF Industries Holdings, Inc is a leading global manufacturer of hydrogen and nitrogen products for agricultural and industrial customers. The company specializes in the production of ammonia, granular urea, urea ammonium nitrate (UAN), nitric acid and ammonium nitrate, which serve as key inputs for fertilizer blends, industrial chemicals and other downstream applications.

Headquartered in Deerfield, Illinois, CF Industries operates production facilities and distribution terminals across North America and the United Kingdom.

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