Methanex Corporation Announces Quarterly Dividend of $0.18 (NASDAQ:MEOH)

Methanex Corporation (NASDAQ:MEOH) (TSE:MX) declared a quarterly dividend on Wednesday, July 15th. Stockholders of record on Wednesday, September 16th will be given a dividend of 0.185 per share by the specialty chemicals company on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, September 16th.

Methanex has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 4 years. Methanex has a dividend payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Methanex to earn $6.04 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 12.3%.

Methanex Price Performance

Shares of MEOH traded down $1.14 on Thursday, hitting $53.24. The company’s stock had a trading volume of 324,852 shares, compared to its average volume of 1,124,956. The company has a market capitalization of $4.12 billion, a PE ratio of -108.59 and a beta of 0.60. Methanex has a fifty-two week low of $32.00 and a fifty-two week high of $66.75. The company has a 50 day moving average price of $55.72 and a 200 day moving average price of $53.47. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.96 and a quick ratio of 1.26.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings results on Wednesday, April 29th. The specialty chemicals company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.08). The business had revenue of $957.42 million for the quarter, compared to analyst estimates of $964.76 million. Methanex had a negative net margin of 1.25% and a positive return on equity of 2.96%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.30 earnings per share. On average, research analysts anticipate that Methanex will post 8.18 earnings per share for the current fiscal year.

Methanex Company Profile

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).