Westlake Corporation (WLK) to Issue Quarterly Dividend of $0.53 on September 10th

Westlake Corporation (NYSE:WLK) declared a quarterly dividend on Friday, August 14th. Investors of record on Tuesday, August 25th will be given a dividend of 0.533 per share by the specialty chemicals company on Thursday, September 10th. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, August 25th. This is a 0.6% increase from Westlake’s previous quarterly dividend of $0.53.

Westlake has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 21 years. Westlake has a payout ratio of 41.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Westlake to earn $3.17 per share next year, which means the company should continue to be able to cover its $2.13 annual dividend with an expected future payout ratio of 67.2%.

Westlake Trading Up 0.1%

WLK stock opened at $78.96 on Friday. The company has a quick ratio of 1.70, a current ratio of 2.45 and a debt-to-equity ratio of 0.55. Westlake has a 52-week low of $56.33 and a 52-week high of $124.23. The company’s 50-day simple moving average is $76.88 and its 200-day simple moving average is $93.53. The firm has a market cap of $10.09 billion, a P/E ratio of -8.24 and a beta of 0.63.

Westlake (NYSE:WLK) last announced its earnings results on Tuesday, August 4th. The specialty chemicals company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.18. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.24 billion. Westlake had a positive return on equity of 0.93% and a negative net margin of 10.94%.The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company posted ($1.11) EPS. As a group, equities analysts forecast that Westlake will post 3.43 EPS for the current fiscal year.

About Westlake

Westlake Corp. is a global manufacturer of petrochemicals, polymers and building products, serving customers across industrial and residential markets. The company’s core operations encompass the production of vinyls—primarily polyvinyl chloride (PVC) and its key feedstock vinyl chloride monomer (VCM)—as well as chlor-alkali products including caustic soda and chlorine. In addition, Westlake produces ethylene, propylene and specialty elastomers, along with construction-related materials such as vinyl siding, trim, windows and roofing systems.

Operating a network of vertically integrated plants and distribution centers, Westlake serves markets in North America, Europe and Asia.