Methanex Co. (MX) to Issue Quarterly Dividend of $0.43
Methanex Co. (TSE:MX) (NASDAQ:MEOH) declared a quarterly dividend on Thursday, July 19th, Zacks reports. Stockholders of record on Sunday, September 16th will be given a dividend of 0.434 per share on Sunday, September 30th. This represents a $1.74 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Thursday, September 13th. This is a boost from Methanex’s previous quarterly dividend of $0.43.
Shares of Methanex stock traded up C$0.91 during trading on Friday, hitting C$95.32. 180,100 shares of the stock were exchanged, compared to its average volume of 284,929. Methanex has a 1-year low of C$60.20 and a 1-year high of C$99.65.
Methanex (TSE:MX) (NASDAQ:MEOH) last released its quarterly earnings data on Wednesday, July 25th. The company reported C$2.26 earnings per share for the quarter, topping the consensus estimate of C$2.19 by C$0.07. The company had revenue of C$1.23 billion for the quarter. Methanex had a net margin of 9.86% and a return on equity of 18.05%.
A number of research analysts recently commented on MX shares. Sanford C. Bernstein decreased their price target on shares of Methanex from C$44.64 to C$44.44 in a research note on Friday, July 27th. BMO Capital Markets reiterated an “outperform” rating and issued a C$80.00 price target on shares of Methanex in a research note on Wednesday, May 23rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of C$71.24.
Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.
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