Innospec Inc. (NASDAQ:IOSP) Plans $0.87 Dividend

Innospec Inc. (NASDAQ:IOSP) declared a dividend on Tuesday, November 4th. Investors of record on Tuesday, November 18th will be given a dividend of 0.87 per share by the specialty chemicals company on Wednesday, November 26th. This represents a dividend yield of 237.0%. The ex-dividend date of this dividend is Tuesday, November 18th.

Innospec has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 11 years. Innospec has a dividend payout ratio of 25.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Innospec to earn $6.96 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 24.1%.

Innospec Stock Performance

Shares of NASDAQ:IOSP traded up $1.21 during midday trading on Wednesday, hitting $73.47. 121,004 shares of the company’s stock traded hands, compared to its average volume of 200,353. The company has a market cap of $1.82 billion, a PE ratio of 94.19 and a beta of 1.06. The firm’s fifty day moving average price is $78.99 and its two-hundred day moving average price is $83.51. Innospec has a twelve month low of $71.06 and a twelve month high of $128.35.

Innospec (NASDAQ:IOSP) last posted its earnings results on Tuesday, November 4th. The specialty chemicals company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.09. The business had revenue of $441.90 million for the quarter, compared to analyst estimates of $443.00 million. Innospec had a net margin of 1.08% and a return on equity of 10.89%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.35 EPS. As a group, equities research analysts anticipate that Innospec will post 6.18 EPS for the current fiscal year.

Innospec Company Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.