Southern Copper Corporation (SCCO) to Issue Quarterly Dividend of $1.00 on May 29th

Southern Copper Corporation (NYSE:SCCO) announced a quarterly dividend on Thursday, April 23rd. Shareholders of record on Wednesday, May 13th will be given a dividend of 1.00 per share by the basic materials company on Friday, May 29th. This represents a c) annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, May 13th.

Southern Copper has increased its dividend by an average of 0.2%per year over the last three years. Southern Copper has a payout ratio of 90.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Southern Copper to earn $6.59 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 60.7%.

Southern Copper Trading Up 0.1%

Southern Copper stock opened at $185.51 on Monday. The company has a current ratio of 4.38, a quick ratio of 3.89 and a debt-to-equity ratio of 0.57. The business’s fifty day simple moving average is $182.45 and its two-hundred day simple moving average is $165.92. Southern Copper has a 12 month low of $88.13 and a 12 month high of $223.88. The company has a market capitalization of $151.95 billion, a price-to-earnings ratio of 30.66, a price-to-earnings-growth ratio of 1.81 and a beta of 1.07.

Southern Copper shares are scheduled to split on Wednesday, May 13th. The 1.01-1 split was recently announced. The newly created shares will be distributed to shareholders after the closing bell on Tuesday, May 12th.

Southern Copper (NYSE:SCCO) last posted its earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.04. The business had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Southern Copper had a net margin of 34.13% and a return on equity of 45.63%. As a group, equities analysts predict that Southern Copper will post 6.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 193 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $174.60, for a total value of $33,697.80. Following the completion of the sale, the director owned 1,707 shares in the company, valued at $298,042.20. This represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by insiders.

Institutional Trading of Southern Copper

Several institutional investors have recently made changes to their positions in SCCO. Capital World Investors grew its position in shares of Southern Copper by 36.1% during the third quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock worth $781,268,000 after purchasing an additional 1,708,693 shares in the last quarter. Norges Bank purchased a new stake in shares of Southern Copper during the fourth quarter worth about $97,645,000. Capital Research Global Investors purchased a new stake in shares of Southern Copper during the fourth quarter worth about $81,039,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Southern Copper during the fourth quarter worth about $46,560,000. Finally, USS Investment Management Ltd grew its holdings in Southern Copper by 904.8% during the 4th quarter. USS Investment Management Ltd now owns 301,655 shares of the basic materials company’s stock valued at $43,272,000 after buying an additional 271,634 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

About Southern Copper

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.