Kronos Worldwide Inc (NYSE:KRO) Plans Quarterly Dividend of $0.05

Key Points

• Kronos Worldwide declared a quarterly dividend of $0.05 per share, payable December 10 to shareholders of record on November 19. The annualized dividend is $0.20, representing a 2.6% yield.
• The dividend appears well covered, with a current payout ratio of 17.7%; analysts expect next year’s earnings to support an estimated payout ratio of 32.8%. However, the company has reduced its dividend by an average of 0.2% annually over the past three years.
• KRO shares opened at $7.65 and were down 1.0%, while the company’s latest quarterly results exceeded expectations with earnings of $0.13 per share versus a $0.07 consensus estimate and revenue of $558.1 million.

Kronos Worldwide Inc (NYSE:KRO - Get Free Report) declared a quarterly dividend on Wednesday, October 28th. Investors of record on Thursday, November 19th will be paid a dividend of $0.05 per share by the specialty chemicals company on Thursday, December 10th. This represents a $0.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Thursday, November 19th.

Kronos Worldwide has decreased its dividend by an average of 0.2% per year over the last three years. Kronos Worldwide has a dividend payout ratio of 17.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Kronos Worldwide to earn $0.61 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 32.8%.

Kronos Worldwide Trading Down 1.0%

Shares of KRO opened at $7.65 on Thursday. Kronos Worldwide has a 52-week low of $4.08 and a 52-week high of $9.17. The stock has a market cap of $880.51 million, a PE ratio of -8.05 and a beta of 1.10. The company has a quick ratio of 1.55, a current ratio of 3.30 and a debt-to-equity ratio of 0.76. The firm's fifty day moving average is $8.05 and its two-hundred day moving average is $6.83.

Kronos Worldwide (NYSE:KRO - Get Free Report) last issued its earnings results on Wednesday, August 5th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.06. Kronos Worldwide had a negative return on equity of 12.28% and a negative net margin of 5.63%. The company had revenue of $558.10 million during the quarter, compared to analysts' expectations of $484.51 million. Research analysts forecast that Kronos Worldwide will post 0.35 earnings per share for the current fiscal year.

About Kronos Worldwide

Kronos Worldwide, Inc NYSE: KRO is a global producer and marketer of titanium dioxide (TiO2) pigments. Its products are sold primarily under the KRONOS brand and are used to provide whiteness, opacity, brightness and protection in paints and coatings, plastics, paper and other manufactured products.

The company also produces certain specialty chemicals, including iron-based products and related inorganic chemicals. Kronos serves industrial customers through manufacturing and distribution operations in North America and Europe, with products marketed to customers in markets around the world.

Kronos Worldwide traces its roots to the early development of commercial titanium dioxide production and is part of the Valhi, Inc corporate family.

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