Methanex Corporation (NASDAQ:MEOH) Announces Quarterly Dividend of $0.19

Methanex Corporation (NASDAQ:MEOH) (TSE:MX) declared a quarterly dividend on Wednesday, April 29th. Investors of record on Tuesday, June 16th will be paid a dividend of 0.185 per share by the specialty chemicals company on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, June 16th.

Methanex has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Methanex has a dividend payout ratio of 20.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Methanex to earn $4.92 per share next year, which means the company should continue to be able to cover its $0.74 annual dividend with an expected future payout ratio of 15.0%.

Methanex Trading Up 3.4%

Methanex stock traded up $2.16 during midday trading on Thursday, reaching $65.47. 529,277 shares of the stock traded hands, compared to its average volume of 1,266,622. The company has a 50-day simple moving average of $56.15 and a two-hundred day simple moving average of $46.15. Methanex has a 12-month low of $30.33 and a 12-month high of $66.75. The firm has a market cap of $5.06 billion, a PE ratio of 57.62 and a beta of 0.56. The company has a current ratio of 2.06, a quick ratio of 1.37 and a debt-to-equity ratio of 0.99.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its earnings results on Wednesday, April 29th. The specialty chemicals company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). Methanex had a net margin of 2.21% and a return on equity of 5.35%. The firm had revenue of $957.42 million for the quarter, compared to analysts’ expectations of $959.28 million. During the same quarter last year, the business earned $1.30 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. Research analysts expect that Methanex will post 5.96 earnings per share for the current fiscal year.

About Methanex

Methanex Corporation is a Vancouver, Canada–based company and one of the world’s largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company’s core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).