Methanex Co. (NASDAQ:MEOH) (TSE:MX) declared a quarterly dividend on Thursday, July 18th, Zacks reports. Investors of record on Monday, September 16th will be given a dividend of 0.36 per share by the specialty chemicals company on Monday, September 30th. This represents a $1.44 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Friday, September 13th.

Methanex has raised its dividend by an average of 7.1% per year over the last three years and has raised its dividend every year for the last 8 years. Methanex has a payout ratio of 22.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Methanex to earn $2.77 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 52.0%.

MEOH stock traded down $0.35 during midday trading on Wednesday, reaching $36.33. 180,379 shares of the company were exchanged, compared to its average volume of 375,108. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 0.71. The business has a 50-day moving average price of $34.29 and a two-hundred day moving average price of $46.84. Methanex has a one year low of $30.25 and a one year high of $83.23. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 5.30, a price-to-earnings-growth ratio of 2.29 and a beta of 1.74.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings data on Wednesday, July 31st. The specialty chemicals company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.16). The company had revenue of $734.00 million during the quarter, compared to the consensus estimate of $719.86 million. Methanex had a net margin of 10.81% and a return on equity of 18.33%. Methanex’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.75 earnings per share. As a group, analysts anticipate that Methanex will post 1.02 earnings per share for the current fiscal year.

A number of research analysts recently commented on the stock. BidaskClub lowered shares of Methanex from a “sell” rating to a “strong sell” rating in a research note on Monday, May 20th. Jefferies Financial Group cut their price objective on shares of Methanex from $40.00 to $34.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Barclays reduced their price objective on Methanex from $53.00 to $39.00 and set an “equal weight” rating for the company in a report on Monday. UBS Group decreased their target price on Methanex from $35.00 to $26.00 and set a “sell” rating on the stock in a research report on Thursday, August 29th. Finally, Alembic Global Advisors set a $55.00 target price on Methanex and gave the company a “hold” rating in a research report on Monday, August 26th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. Methanex presently has a consensus rating of “Hold” and an average target price of $56.63.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. It also purchases 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.

Read More: Understanding dividend yield and dividend payout ratio

Dividend History for Methanex (NASDAQ:MEOH)

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