Kronos Worldwide, Inc. (NYSE:KRO) to Issue $0.19 Quarterly Dividend

Kronos Worldwide, Inc. (NYSE:KRO - Get Free Report) declared a quarterly dividend on Wednesday, May 15th, NASDAQ reports. Shareholders of record on Monday, June 10th will be paid a dividend of 0.19 per share by the specialty chemicals company on Thursday, June 20th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.75%. The ex-dividend date of this dividend is Monday, June 10th.

Kronos Worldwide has raised its dividend by an average of 1.8% per year over the last three years. Kronos Worldwide has a payout ratio of 102.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Kronos Worldwide to earn $0.75 per share next year, which means the company may not be able to cover its $0.76 annual dividend with an expected future payout ratio of 101.3%.

Kronos Worldwide Price Performance

Shares of NYSE KRO traded up $0.52 during midday trading on Thursday, reaching $13.22. The company's stock had a trading volume of 280,619 shares, compared to its average volume of 231,290. The company has a market cap of $1.52 billion, a P/E ratio of -56.78 and a beta of 1.21. Kronos Worldwide has a fifty-two week low of $6.16 and a fifty-two week high of $13.26. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.90 and a current ratio of 3.68. The business's 50 day moving average price is $11.73 and its two-hundred day moving average price is $9.88.

Kronos Worldwide (NYSE:KRO - Get Free Report) last issued its quarterly earnings results on Wednesday, March 6th. The specialty chemicals company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.02. Kronos Worldwide had a negative net margin of 1.50% and a negative return on equity of 3.13%. The company had revenue of $400.10 million during the quarter, compared to the consensus estimate of $404.94 million. On average, analysts forecast that Kronos Worldwide will post 0.33 EPS for the current fiscal year.

Analyst Ratings Changes

KRO has been the subject of several research reports. StockNews.com raised shares of Kronos Worldwide from a "hold" rating to a "buy" rating in a research note on Monday. TheStreet raised Kronos Worldwide from a "d+" rating to a "c-" rating in a report on Monday, March 11th. Barclays boosted their price objective on Kronos Worldwide from $8.00 to $9.00 and gave the stock an "underweight" rating in a research report on Wednesday. Finally, The Goldman Sachs Group increased their target price on Kronos Worldwide from $9.00 to $11.00 and gave the company a "sell" rating in a research report on Thursday.

About Kronos Worldwide

Kronos Worldwide, Inc produces and markets titanium dioxide pigments (TiO2) in Europe, North America, the Asia Pacific, and internationally. The company produces TiO2 in two crystalline forms, rutile and anatase to impart whiteness, brightness, opacity, and durability for various products, including paints, coatings, plastics, paper, fibers, and ceramics, as well as for various specialty products, such as inks, foods, and cosmetics.

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