First Majestic Silver Corp. (NYSE:AG) Increases Dividend to $0.02 Per Share

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) announced a quarterly dividend on Tuesday, May 12th. Stockholders of record on Wednesday, May 20th will be given a dividend of 0.0171 per share by the mining company on Friday, May 29th. This represents a c) annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Wednesday, May 20th. This is a 106.0% increase from First Majestic Silver’s previous quarterly dividend of $0.0083.

First Majestic Silver has a payout ratio of 12.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Majestic Silver to earn $1.07 per share next year, which means the company should continue to be able to cover its $0.03 annual dividend with an expected future payout ratio of 2.8%.

First Majestic Silver Stock Up 2.8%

NYSE AG traded up $0.67 on Tuesday, hitting $24.25. 25,099,495 shares of the stock traded hands, compared to its average volume of 22,026,986. The company has a current ratio of 2.60, a quick ratio of 2.41 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average of $22.13 and a 200 day moving average of $19.36. First Majestic Silver has a twelve month low of $5.49 and a twelve month high of $32.03. The company has a market capitalization of $11.95 billion, a P/E ratio of 69.28 and a beta of 0.85.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Tuesday, May 12th. The mining company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). First Majestic Silver had a return on equity of 7.25% and a net margin of 13.12%.First Majestic Silver’s revenue was up 95.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.05 earnings per share. As a group, analysts expect that First Majestic Silver will post 0.72 earnings per share for the current fiscal year.

About First Majestic Silver

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.