Southern Copper Corporation (NYSE:SCCO) Announces Quarterly Dividend of $1.10

Southern Copper Corporation (NYSE:SCCO) declared a quarterly dividend on Thursday, July 16th. Shareholders of record on Tuesday, August 11th will be paid a dividend of 1.10 per share by the basic materials company on Thursday, August 27th. This represents a c) annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, August 11th. This is a 10.0% increase from Southern Copper’s previous quarterly dividend of $1.00.

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 99.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Southern Copper to earn $7.01 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 62.8%.

Southern Copper Price Performance

Shares of SCCO opened at $199.38 on Friday. Southern Copper has a 1 year low of $92.57 and a 1 year high of $223.88. The company has a debt-to-equity ratio of 0.63, a current ratio of 5.06 and a quick ratio of 3.89. The company has a market capitalization of $164.70 billion, a price-to-earnings ratio of 29.15, a price-to-earnings-growth ratio of 1.71 and a beta of 1.11. The business has a 50-day moving average of $181.84 and a 200-day moving average of $184.71.

Shares of Southern Copper are going to split before the market opens on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly issued shares will be payable to shareholders after the market closes on Monday, August 10th.

Southern Copper (NYSE:SCCO) last announced its earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.95 by $0.06. The business had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.37 billion. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The firm’s revenue was up 40.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Southern Copper will post 7.63 earnings per share for the current year.

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.