Eastman Chemical Company Plans Quarterly Dividend of $0.84 (NYSE:EMN)

Eastman Chemical Company (NYSE:EMN) declared a quarterly dividend on Thursday, February 12th. Stockholders of record on Friday, March 13th will be given a dividend of 0.84 per share by the basic materials company on Wednesday, April 8th. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, March 13th.

Eastman Chemical has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 15 consecutive years. Eastman Chemical has a dividend payout ratio of 40.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Eastman Chemical to earn $9.56 per share next year, which means the company should continue to be able to cover its $3.36 annual dividend with an expected future payout ratio of 35.1%.

Eastman Chemical Stock Down 1.8%

Shares of EMN stock opened at $79.87 on Friday. Eastman Chemical has a 52-week low of $56.11 and a 52-week high of $103.82. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.86 and a current ratio of 1.76. The stock has a market cap of $9.11 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 1.79 and a beta of 1.23. The firm’s 50-day moving average is $68.03 and its 200-day moving average is $65.15.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Thursday, January 29th. The basic materials company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.01). Eastman Chemical had a return on equity of 10.63% and a net margin of 5.42%.The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the firm posted $1.87 earnings per share. The firm’s revenue was down 12.1% compared to the same quarter last year. Sell-side analysts predict that Eastman Chemical will post 8.55 EPS for the current year.

About Eastman Chemical

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company’s main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.