Innospec Inc. (NASDAQ:IOSP) Plans Dividend of $0.94

Innospec Inc. (NASDAQ:IOSP) declared a dividend on Tuesday, November 3rd. Stockholders of record on Tuesday, November 17th will be paid a dividend of $0.94 per share by the specialty chemicals company on Wednesday, November 25th. This represents a dividend yield of 189.0%. The ex-dividend date is Tuesday, November 17th.

Innospec has increased its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 11 years. Innospec has a dividend payout ratio of 28.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Innospec to earn $6.25 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 29.4%.

Innospec Price Performance

Shares of NASDAQ:IOSP opened at $99.23 on Wednesday. Innospec has a one year low of $65.51 and a one year high of $102.00. The company has a 50 day moving average of $96.24 and a 200-day moving average of $84.60. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 20.25, a P/E/G ratio of 2.65 and a beta of 0.88.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings results on Tuesday, November 3rd. The specialty chemicals company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. Innospec had a net margin of 6.60% and a return on equity of 9.22%. The business had revenue of $473.60 million during the quarter, compared to the consensus estimate of $479.17 million. During the same period in the previous year, the firm posted $1.12 earnings per share. Innospec’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Innospec will post 5.01 earnings per share for the current year.

About Innospec

Innospec Inc (NASDAQ: IOSP) is a global specialty chemicals company that develops, manufactures and markets products used in the fuel, oilfield, personal care and industrial markets. The company serves customers through a portfolio of chemical additives, formulations and technical services designed to improve product performance, efficiency and reliability.

Innospec operates through businesses focused on fuel specialties, performance chemicals and oilfield services. Its fuel-related products include fuel additives for gasoline, diesel, marine and other applications, including detergents, lubricity improvers, cetane improvers and other performance-enhancing formulations.