Corteva, Inc. (CTVA) to Issue Quarterly Dividend of $0.16 on June 18th

Corteva, Inc. (NYSE:CTVA) announced a quarterly dividend on Friday, April 26th, RTT News reports. Shareholders of record on Tuesday, June 4th will be given a dividend of 0.16 per share on Tuesday, June 18th. This represents a $0.64 annualized dividend and a yield of 1.17%. The ex-dividend date is Tuesday, June 4th.

Corteva has raised its dividend payment by an average of 6.0% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Corteva has a payout ratio of 18.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Corteva to earn $3.47 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 18.4%.

Corteva Trading Up 0.4 %

Corteva stock opened at $54.92 on Friday. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. Corteva has a 12 month low of $43.22 and a 12 month high of $61.87. The stock’s 50 day simple moving average is $55.28 and its two-hundred day simple moving average is $50.46. The firm has a market cap of $38.38 billion, a PE ratio of 53.84, a P/E/G ratio of 1.44 and a beta of 0.77.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.06 by $0.09. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same quarter in the prior year, the firm posted $0.16 EPS. Analysts anticipate that Corteva will post 2.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $57.00 target price (down from $58.00) on shares of Corteva in a research note on Friday, April 12th. TheStreet raised Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. Royal Bank of Canada upped their target price on Corteva from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. UBS Group reduced their target price on Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, January 11th. Finally, Barclays increased their price objective on Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.29.

Corteva Company Profile

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.