Imperial Oil Limited (NYSEAMERICAN:IMO) to Issue Dividend Increase - C$0.72 Per Share

Key Points

• Imperial Oil Limited announced a quarterly dividend increase to C$0.72 per share, representing a 37.7% rise from their previous dividend of $0.52.
• The dividend will be paid on October 1st to stockholders of record on September 4th, with a current dividend yield of 3.2%.
• Imperial Oil has a payout ratio of 41.2% and analysts predict earnings of $6.37 per share for the coming year, ensuring that the company can sustain its dividend payments.

Imperial Oil Limited (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO announced a quarterly dividend on Friday, August 1st. Stockholders of record on Thursday, September 4th will be given a dividend of 0.72 per share by the energy company on Wednesday, October 1st. This represents a c) annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Thursday, September 4th. This is a 37.7% increase from Imperial Oil's previous quarterly dividend of $0.52.

Imperial Oil has a payout ratio of 41.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Imperial Oil to earn $6.37 per share next year, which means the company should continue to be able to cover its $2.10 annual dividend with an expected future payout ratio of 33.0%.

Imperial Oil Trading Up 0.3%

Shares of IMO stock opened at $90.78 on Tuesday. Imperial Oil has a 12-month low of $58.76 and a 12-month high of $91.17. The company has a market capitalization of $45.99 billion, a P/E ratio of 13.99 and a beta of 0.94. The firm has a 50-day moving average price of $83.57 and a 200 day moving average price of $74.54. The company has a quick ratio of 1.34, a current ratio of 1.58 and a debt-to-equity ratio of 0.16.

About Imperial Oil

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.

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