Imperial Oil Limited (NYSEAMERICAN:IMO) Announces $0.44 Quarterly Dividend

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) declared a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Investors of record on Monday, June 3rd will be given a dividend of 0.4377 per share by the energy company on Monday, July 1st. This represents a $1.75 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Monday, June 3rd.

Imperial Oil has raised its dividend payment by an average of 29.2% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Imperial Oil has a dividend payout ratio of 25.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Imperial Oil to earn $6.52 per share next year, which means the company should continue to be able to cover its $1.77 annual dividend with an expected future payout ratio of 27.1%.

Imperial Oil Trading Up 0.7 %

NYSEAMERICAN:IMO opened at $71.16 on Tuesday. Imperial Oil has a 52 week low of $44.46 and a 52 week high of $74.58. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $38.13 billion, a price-to-earnings ratio of 11.08 and a beta of 1.48.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its quarterly earnings data on Friday, April 26th. The energy company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.10. Imperial Oil had a return on equity of 20.71% and a net margin of 9.46%. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Equities analysts forecast that Imperial Oil will post 6.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Imperial Oil from a “hold” rating to a “buy” rating in a research report on Monday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $85.33.

About Imperial Oil

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.