Innospec Inc. (NASDAQ:IOSP) to Issue $0.92 Dividend

Key Points

• Innospec declared a $0.92 cash dividend payable on May 29 to shareholders of record on May 19 (ex-dividend date May 19), with the article reporting a yield of 240.0%.
• The dividend appears well-covered: the company has increased dividends for 11 consecutive years and has a current payout ratio of 26.8%, with analysts forecasting $6.26 EPS next year implying an expected payout ratio of 27.8% on a $1.74 annual dividend.
• Innospec beat quarterly expectations, reporting $1.05 EPS vs. $1.02 consensus and $453.2M revenue, while the stock traded at $80.18 (market cap ~$2.0B, P/E 17.19) during the report period.

Innospec Inc. (NASDAQ:IOSP - Get Free Report) declared a dividend on Thursday, May 7th. Shareholders of record on Tuesday, May 19th will be paid a dividend of 0.92 per share by the specialty chemicals company on Friday, May 29th. This represents a yield of 240.0%. The ex-dividend date is Tuesday, May 19th.

Innospec has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Innospec has a payout ratio of 26.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Innospec to earn $6.26 per share next year, which means the company should continue to be able to cover its $1.74 annual dividend with an expected future payout ratio of 27.8%.

Innospec Stock Performance

Innospec stock traded up $3.54 during midday trading on Friday, hitting $80.18. 22,800 shares of the company's stock were exchanged, compared to its average volume of 213,931. Innospec has a 12 month low of $65.51 and a 12 month high of $95.55. The firm has a 50-day moving average of $73.65 and a two-hundred day moving average of $76.59. The company has a market cap of $2.00 billion, a PE ratio of 17.19, a P/E/G ratio of 2.09 and a beta of 0.90.

Innospec (NASDAQ:IOSP - Get Free Report) last issued its earnings results on Friday, May 8th. The specialty chemicals company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.03. Innospec had a net margin of 6.56% and a return on equity of 10.18%. The company had revenue of $453.20 million for the quarter, compared to analysts' expectations of $432.14 million. During the same period in the prior year, the business earned $1.42 EPS. The firm's quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities analysts expect that Innospec will post 4.96 earnings per share for the current year.

Innospec Company Profile

Innospec Incorporated NASDAQ: IOSP is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.

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