Methanex Corporation Announces Quarterly Dividend of $0.18 (NASDAQ:MEOH)

Key Points

• Methanex Corporation declared a quarterly dividend of $0.185 per share, payable on September 30 to shareholders of record on September 16. The dividend implies an annualized yield of about 1.4%.
• The company has raised its dividend every year for the past four years and maintains a low 20% payout ratio, suggesting the dividend is well covered by earnings. Analysts expect that coverage to remain strong next year.
• Despite the dividend announcement, MEOH shares fell 2.1% to $53.26. The stock also recently reported mixed quarterly results, with earnings missing estimates even as revenue rose 8.7% year over year.

Methanex Corporation (NASDAQ:MEOH - Get Free Report) TSE: MX declared a quarterly dividend on Wednesday, July 15th. Shareholders of record on Wednesday, September 16th will be paid a dividend of 0.185 per share by the specialty chemicals company on Wednesday, September 30th. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, September 16th.

Methanex has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 4 years. Methanex has a dividend payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Methanex to earn $6.04 per share next year, which means the company should continue to be able to cover its $0.74 annual dividend with an expected future payout ratio of 12.3%.

Methanex Trading Down 2.1%

Shares of MEOH stock traded down $1.12 on Thursday, hitting $53.26. The company had a trading volume of 315,246 shares, compared to its average volume of 1,124,620. The firm has a market cap of $4.12 billion, a P/E ratio of -108.68 and a beta of 0.60. The stock's 50-day moving average is $55.72 and its two-hundred day moving average is $53.47. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.26 and a current ratio of 1.96. Methanex has a twelve month low of $32.00 and a twelve month high of $66.75.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last posted its quarterly earnings data on Wednesday, April 29th. The specialty chemicals company reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.08). The company had revenue of $957.42 million during the quarter, compared to analyst estimates of $964.76 million. Methanex had a positive return on equity of 2.96% and a negative net margin of 1.25%.Methanex's revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.30 earnings per share. On average, equities research analysts anticipate that Methanex will post 8.18 earnings per share for the current fiscal year.

Methanex Company Profile

Methanex Corporation is a Vancouver, Canada–based company and one of the world's largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company's core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).

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