Tronox Limited (TROX) Plans $0.05 Quarterly Dividend
Tronox Limited (NYSE:TROX) declared a quarterly dividend on Wednesday, November 8th, Zacks reports. Shareholders of record on Monday, November 20th will be given a dividend of 0.045 per share on Friday, December 1st. This represents a $0.18 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Friday, November 17th.
Tronox Limited has decreased its dividend payment by an average of 27.3% annually over the last three years. Tronox Limited has a dividend payout ratio of -120.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Tronox Limited to earn $1.05 per share next year, which means the company should continue to be able to cover its $0.18 annual dividend with an expected future payout ratio of 17.1%.
Tronox Limited (NYSE TROX) opened at $26.66 on Friday. The company has a quick ratio of 1.48, a current ratio of 2.40 and a debt-to-equity ratio of 2.46. Tronox Limited has a 1-year low of $9.34 and a 1-year high of $28.40.
Separately, J P Morgan Chase & Co initiated coverage on shares of Tronox Limited in a research note on Tuesday, October 24th. They set an “overweight” rating and a $30.00 price objective for the company.
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About Tronox Limited
Tronox Limited produces and markets titanium bearing mineral sands and titanium dioxide (TiO2) pigment in North America, Europe, South Africa, and the Asia-Pacific region. It primarily operates in two segments, TiO2 and Alkali. The TiO2 segment engages in the exploration, mining, and beneficiation of mineral sands deposits.
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