Methanex Corporation Announces Quarterly Dividend of $0.19 (NASDAQ:MEOH)

Methanex Corporation (NASDAQ:MEOH) (TSE:MX) declared a quarterly dividend on Tuesday, November 18th. Stockholders of record on Wednesday, December 17th will be given a dividend of 0.185 per share by the specialty chemicals company on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, December 17th.

Methanex has decreased its dividend payment 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. Research analysts expect Methanex to earn $4.85 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 15.3%.

Methanex Stock Down 1.0%

NASDAQ MEOH opened at $35.36 on Wednesday. The firm has a market cap of $2.73 billion, a PE ratio of 11.99 and a beta of 1.01. Methanex has a one year low of $25.46 and a one year high of $54.49. The stock’s 50 day simple moving average is $37.39 and its 200 day simple moving average is $35.30. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.13 and a quick ratio of 1.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings data on Wednesday, October 29th. The specialty chemicals company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.45). The business had revenue of $924.87 million during the quarter, compared to the consensus estimate of $977.82 million. Methanex had a net margin of 5.97% and a return on equity of 9.30%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.21 EPS. As a group, sell-side analysts forecast that Methanex will post 4.32 earnings per share for the current fiscal year.

Institutional Trading of Methanex

A number of hedge funds have recently modified their holdings of MEOH. Acadian Asset Management LLC increased its holdings in shares of Methanex by 225,333.3% in the first quarter. Acadian Asset Management LLC now owns 33,815 shares of the specialty chemicals company’s stock worth $1,183,000 after acquiring an additional 33,800 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. grew its position in shares of Methanex by 75.4% in the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 794,279 shares of the specialty chemicals company’s stock valued at $26,352,000 after purchasing an additional 341,336 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Methanex during the first quarter worth $702,000. PCJ Investment Counsel Ltd. bought a new position in Methanex during the 2nd quarter worth about $3,982,000. Finally, Value Partners Investments Inc. raised its stake in shares of Methanex by 150.1% in the 2nd quarter. Value Partners Investments Inc. now owns 19,272 shares of the specialty chemicals company’s stock valued at $637,000 after purchasing an additional 11,567 shares during the period. 73.49% of the stock is currently owned by institutional investors and hedge funds.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.