Imperial Oil Limited (NYSEAMERICAN:IMO) Increases Dividend to $0.52 Per Share

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) announced a quarterly dividend on Monday, May 5th, Wall Street Journal reports. Stockholders of record on Wednesday, June 4th will be paid a dividend of 0.523 per share by the energy company on Tuesday, July 1st. This represents a $2.09 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Wednesday, June 4th. This is a 5.2% increase from Imperial Oil’s previous quarterly dividend of $0.50.

Imperial Oil has increased its dividend payment by an average of 32.3% annually over the last three years. Imperial Oil has a dividend payout ratio of 35.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Imperial Oil to earn $6.37 per share next year, which means the company should continue to be able to cover its $2.01 annual dividend with an expected future payout ratio of 31.6%.

Imperial Oil Stock Performance

Shares of NYSEAMERICAN IMO opened at $67.71 on Tuesday. Imperial Oil has a 1 year low of $58.76 and a 1 year high of $80.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.34. The company has a market capitalization of $34.47 billion, a PE ratio of 10.27 and a beta of 1.44. The company’s fifty day moving average price is $67.47 and its 200 day moving average price is $69.72.

Analyst Upgrades and Downgrades

IMO has been the topic of several research analyst reports. Raymond James upgraded shares of Imperial Oil from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $101.00 price objective on shares of Imperial Oil in a report on Thursday, April 3rd. Scotiabank raised Imperial Oil to a “hold” rating in a report on Wednesday, March 19th. The Goldman Sachs Group lowered Imperial Oil from a “neutral” rating to a “sell” rating in a research note on Thursday, March 27th. Finally, Wolfe Research upgraded Imperial Oil from a “peer perform” rating to an “outperform” rating in a research report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Imperial Oil presently has an average rating of “Hold” and a consensus target price of $106.33.

Imperial Oil Company Profile

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.