ICL Group Ltd. (NYSE:ICL) Raises Dividend to $0.06 Per Share

ICL Group Ltd. (NYSE:ICL) announced a quarterly dividend on Tuesday, August 4th. Shareholders of record on Wednesday, September 2nd will be paid a dividend of 0.0581 per share by the basic materials company on Wednesday, September 16th. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date is Wednesday, September 2nd. This is a 8.6% increase from ICL Group’s previous quarterly dividend of $0.05.

ICL Group has increased its dividend by an average of 0.1%per year over the last three years. ICL Group has a payout ratio of 34.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect ICL Group to earn $0.44 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 36.4%.

ICL Group Stock Up 1.7%

Shares of NYSE:ICL traded up $0.09 on Wednesday, reaching $5.24. The company had a trading volume of 1,465,460 shares, compared to its average volume of 1,499,131. The firm has a market capitalization of $6.76 billion, a PE ratio of 26.18 and a beta of 0.96. The company has a current ratio of 1.38, a quick ratio of 0.80 and a debt-to-equity ratio of 0.35. ICL Group has a 52-week low of $4.76 and a 52-week high of $6.97. The firm’s 50 day simple moving average is $5.35 and its 200-day simple moving average is $5.44.

ICL Group (NYSE:ICL) last issued its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. ICL Group had a return on equity of 7.84% and a net margin of 3.52%.The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.01 billion. As a group, analysts expect that ICL Group will post 0.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ICL Group

Several institutional investors have recently added to or reduced their stakes in the business. Amundi grew its stake in shares of ICL Group by 49.7% during the first quarter. Amundi now owns 1,115,720 shares of the basic materials company’s stock worth $5,779,000 after acquiring an additional 370,457 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of ICL Group by 19.6% in the 1st quarter. Quantinno Capital Management LP now owns 942,340 shares of the basic materials company’s stock valued at $4,865,000 after purchasing an additional 154,459 shares during the last quarter. Renaissance Technologies LLC boosted its stake in ICL Group by 19.5% in the 1st quarter. Renaissance Technologies LLC now owns 1,174,178 shares of the basic materials company’s stock worth $6,082,000 after purchasing an additional 191,902 shares in the last quarter. Sei Investments Co. acquired a new stake in ICL Group in the 1st quarter worth approximately $54,000. Finally, Cetera Investment Advisers grew its position in ICL Group by 4.1% during the 1st quarter. Cetera Investment Advisers now owns 46,335 shares of the basic materials company’s stock worth $240,000 after purchasing an additional 1,834 shares during the last quarter. Institutional investors and hedge funds own 13.38% of the company’s stock.

About ICL Group

ICL Group is a global specialty minerals and chemicals company headquartered in Tel Aviv, Israel. Established in its current form through the consolidation of Israeli government–owned chemical operations, ICL has evolved into a publicly traded entity on the New York Stock Exchange (NYSE: ICL). The company’s origins date back to state-driven mineral extraction in the Negev and the Dead Sea region, and over the decades it has grown through strategic acquisitions, technological innovation and a gradual privatization process completed in the early 2010s.

ICL’s core operations are organized into three principal business areas.