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

Key Points

• Chemours declared a quarterly dividend of $0.0875 per share, payable September 15 to shareholders of record on August 14. The dividend implies an annualized payout of $0.35 and a yield of approximately 2.0%.
• The company reported quarterly earnings of $0.42 per share, missing analysts’ $0.50 estimate, while revenue fell 1.5% year over year to $1.59 billion, below expectations of $1.65 billion.
• Chemours’ dividend appears well covered, with a 14.5% payout ratio, and institutional investors own 76.26% of the company’s stock.

The Chemours Company (NYSE:CC - Get Free Report) declared a quarterly dividend on Tuesday, August 4th. Stockholders of record on Friday, August 14th will be paid a dividend of 0.0875 per share by the specialty chemicals company on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, August 14th.

Chemours has decreased its dividend payment by an average of 0.1%annually over the last three years. Chemours has a payout ratio of 14.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Chemours to earn $2.24 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 15.6%.

Chemours Stock Up 4.9%

CC opened at $17.94 on Wednesday. Chemours has a one year low of $10.44 and a one year high of $28.67. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.87 and a current ratio of 1.82. The stock's fifty day moving average is $19.67 and its 200-day moving average is $20.06. The company has a market capitalization of $2.70 billion, a PE ratio of -6.80 and a beta of 1.43.

Chemours (NYSE:CC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.08). Chemours had a negative net margin of 6.82% and a positive return on equity of 52.49%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the company earned ($2.54) EPS. The company's quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities analysts predict that Chemours will post 1.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Chemours

A number of institutional investors have recently modified their holdings of the stock. Bank of America Corp DE grew its stake in Chemours by 79.1% in the first quarter. Bank of America Corp DE now owns 1,317,003 shares of the specialty chemicals company's stock valued at $29,014,000 after purchasing an additional 581,621 shares in the last quarter. Edgestream Partners L.P. lifted its holdings in shares of Chemours by 1,126.4% during the 1st quarter. Edgestream Partners L.P. now owns 294,881 shares of the specialty chemicals company's stock valued at $6,496,000 after buying an additional 270,836 shares during the last quarter. Amundi bought a new stake in shares of Chemours in the 1st quarter valued at approximately $272,000. California State Teachers Retirement System increased its holdings in Chemours by 18.8% in the first quarter. California State Teachers Retirement System now owns 173,103 shares of the specialty chemicals company's stock worth $3,813,000 after buying an additional 27,377 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in Chemours by 16.4% during the first quarter. Quantinno Capital Management LP now owns 364,745 shares of the specialty chemicals company's stock valued at $8,035,000 after acquiring an additional 51,275 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.

About Chemours

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours' principal business activities are organized into three core segments.

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