ICL Group Ltd. (NYSE:ICL) Raises Dividend to $0.06 Per Share

Key Points

• ICL Group raised its quarterly dividend to $0.0581 per share, an 8.6% increase from $0.05, implying an annualized yield of approximately 4.4%. The dividend is payable September 16 to shareholders of record as of September 2.
• The dividend appears well covered, with a current payout ratio of 34.0%; analysts expect next year’s earnings of $0.44 per share versus an annual dividend of about $0.16.
• ICL’s latest quarterly results exceeded expectations, reporting $0.12 in earnings per share and $2.13 billion in revenue, compared with estimates of $0.11 and $2.01 billion, respectively.

ICL Group Ltd. (NYSE:ICL - Get Free Report) declared a quarterly dividend on Tuesday, August 4th. Investors of record on Wednesday, September 2nd will be paid a dividend of 0.0581 per share by the basic materials company on Wednesday, September 16th. This represents a c) dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, September 2nd. This is a 8.6% increase from ICL Group's previous quarterly dividend of $0.05.

ICL Group has raised its dividend by an average of 0.1%annually over the last three years. ICL Group has a payout ratio of 34.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect ICL Group to earn $0.44 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 36.4%.

ICL Group Price Performance

ICL traded up $0.09 during trading hours on Wednesday, hitting $5.24. The company's stock had a trading volume of 1,465,460 shares, compared to its average volume of 1,499,131. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 26.18 and a beta of 0.96. The business's 50-day moving average price is $5.35 and its 200-day moving average price is $5.44. The company has a current ratio of 1.38, a quick ratio of 0.80 and a debt-to-equity ratio of 0.35. ICL Group has a 12 month low of $4.76 and a 12 month high of $6.97.

ICL Group (NYSE:ICL - Get Free Report) last posted its earnings results on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.01. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.01 billion. ICL Group had a net margin of 3.52% and a return on equity of 7.84%. Sell-side analysts expect that ICL Group will post 0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ICL Group

A number of large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC increased its position in shares of ICL Group by 351.2% during the fourth quarter. Farther Finance Advisors LLC now owns 5,157 shares of the basic materials company's stock worth $30,000 after acquiring an additional 4,014 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in ICL Group in the fourth quarter worth about $38,000. Boothbay Fund Management LLC bought a new position in ICL Group during the 4th quarter worth about $59,000. Sei Investments Co. bought a new position in ICL Group during the 1st quarter worth about $54,000. Finally, Thrivent Financial for Lutherans purchased a new position in ICL Group during the 2nd quarter valued at about $72,000. Hedge funds and other institutional investors own 13.38% of the company's stock.

ICL Group Company Profile

ICL Group is a global specialty minerals and chemicals company headquartered in Tel Aviv, Israel. Established in its current form through the consolidation of Israeli government–owned chemical operations, ICL has evolved into a publicly traded entity on the New York Stock Exchange NYSE: ICL. The company's origins date back to state-driven mineral extraction in the Negev and the Dead Sea region, and over the decades it has grown through strategic acquisitions, technological innovation and a gradual privatization process completed in the early 2010s.

ICL's core operations are organized into three principal business areas.

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