The Chemours Company (NYSE:CC) Announces Quarterly Dividend of $0.09

Key Points

• Chemours Company announced a quarterly dividend of $0.09 per share, with an annualized dividend yield of 2.9%, payable on September 12th to stockholders of record by August 15th.
• The company reported a significantly improved earnings per share (EPS) of $0.58 for the last quarter, surpassing analyst expectations and indicating a year-over-year revenue increase of 5% to $1.62 billion.
• Chemours maintains a low dividend payout ratio of 14.5%, suggesting that the company's earnings are sufficient to support its dividend payments going forward.

The Chemours Company (NYSE:CC - Get Free Report) announced a quarterly dividend on Wednesday, August 6th, Wall Street Journal reports. Stockholders of record on Friday, August 15th will be paid a dividend of 0.0875 per share by the specialty chemicals company on Friday, September 12th. This represents a c) annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, August 15th.

Chemours has a dividend payout ratio of 14.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Chemours to earn $2.71 per share next year, which means the company should continue to be able to cover its $0.35 annual dividend with an expected future payout ratio of 12.9%.

Chemours Price Performance

Shares of NYSE CC traded down $0.63 during mid-day trading on Wednesday, hitting $12.01. 8,045,683 shares of the company's stock traded hands, compared to its average volume of 3,515,854. The company has a market capitalization of $1.80 billion, a P/E ratio of 60.03 and a beta of 1.61. Chemours has a 1 year low of $9.13 and a 1 year high of $22.38. The company's 50-day moving average is $12.10 and its two-hundred day moving average is $13.41. The company has a debt-to-equity ratio of 7.01, a current ratio of 1.75 and a quick ratio of 0.83.

Chemours (NYSE:CC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.46 by $0.12. The company had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.57 billion. Chemours had a net margin of 0.54% and a return on equity of 23.82%. The firm's revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 EPS. On average, equities analysts anticipate that Chemours will post 2.03 EPS for the current fiscal year.

About Chemours

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.