Imperial Oil Limited (NYSEAMERICAN:IMO) Plans Quarterly Dividend of $0.44

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) declared a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Investors of record on Monday, June 3rd will be given a dividend of 0.4377 per share by the energy company on Monday, July 1st. This represents a $1.75 annualized dividend and a yield of 2.46%. The ex-dividend date is Monday, June 3rd.

Imperial Oil has increased its dividend payment by an average of 29.2% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Imperial Oil has a dividend payout ratio of 25.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Imperial Oil to earn $6.52 per share next year, which means the company should continue to be able to cover its $1.77 annual dividend with an expected future payout ratio of 27.1%.

Imperial Oil Trading Up 0.7 %

Shares of IMO stock opened at $71.16 on Tuesday. The firm has a market capitalization of $38.13 billion, a price-to-earnings ratio of 11.08 and a beta of 1.48. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.26. Imperial Oil has a 52 week low of $44.46 and a 52 week high of $74.58.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last announced its quarterly earnings results on Friday, April 26th. The energy company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.10. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $11.61 billion. Imperial Oil had a return on equity of 20.71% and a net margin of 9.46%. On average, sell-side analysts forecast that Imperial Oil will post 6.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Imperial Oil from a “hold” rating to a “buy” rating in a research report on Monday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $85.33.

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.