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

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

Methanex has increased its dividend by an average of 0.1%per year 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. 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 Stock Performance

Methanex stock traded down $1.12 during midday trading on Thursday, reaching $53.26. The stock had a trading volume of 315,246 shares, compared to its average volume of 1,124,620. The firm has a market capitalization of $4.12 billion, a PE ratio of -108.68 and a beta of 0.60. The company has a quick ratio of 1.26, a current ratio of 1.96 and a debt-to-equity ratio of 0.98. The firm’s 50-day moving average price is $55.72 and its 200 day moving average price is $53.47. Methanex has a 12 month low of $32.00 and a 12 month high of $66.75.

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

Hedge Funds Weigh In On Methanex

Several institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio lifted its stake in shares of Methanex by 0.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 82,381 shares of the specialty chemicals company’s stock valued at $4,892,000 after acquiring an additional 225 shares during the last quarter. AMG National Trust Bank increased its stake in Methanex by 4.8% in the 1st quarter. AMG National Trust Bank now owns 8,127 shares of the specialty chemicals company’s stock worth $484,000 after purchasing an additional 374 shares during the period. NewEdge Advisors LLC increased its stake in Methanex by 33.3% in the 3rd quarter. NewEdge Advisors LLC now owns 2,000 shares of the specialty chemicals company’s stock worth $80,000 after purchasing an additional 500 shares during the period. Parkside Financial Bank & Trust lifted its position in Methanex by 61.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,143 shares of the specialty chemicals company’s stock valued at $85,000 after purchasing an additional 812 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Methanex by 8.2% in the fourth quarter. Franklin Resources Inc. now owns 10,706 shares of the specialty chemicals company’s stock valued at $425,000 after purchasing an additional 813 shares during the last quarter. Institutional investors own 73.49% of the company’s stock.

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).