Southern Copper Corporation (NYSE:SCCO) Raises Dividend to $1.30 Per Share

Southern Copper Corporation (NYSE:SCCO) declared a quarterly dividend on Thursday, October 15th. Stockholders of record on Tuesday, November 3rd will be given a dividend of $1.30 per share by the basic materials company on Thursday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, November 3rd. This is a 18.2% increase from Southern Copper’s previous quarterly dividend of $1.10.

Southern Copper has raised its dividend by an average of 0.2% per year over the last three years. Southern Copper has a payout ratio of 117.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Southern Copper to earn $7.82 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 66.5%.

Southern Copper Stock Down 7.4%

SCCO stock opened at $177.60 on Friday. The company has a current ratio of 5.06, a quick ratio of 4.56 and a debt-to-equity ratio of 0.63. Southern Copper has a 1 year low of $119.25 and a 1 year high of $223.88. The company has a fifty day simple moving average of $200.92 and a 200 day simple moving average of $187.49. The firm has a market cap of $148.18 billion, a PE ratio of 23.25, a PEG ratio of 1.64 and a beta of 1.11.

Southern Copper’s stock is going to split on Tuesday, November 3rd. The 1.0106-1 split was recently announced. The newly minted shares will be distributed to shareholders after the closing bell on Monday, November 2nd.

Southern Copper (NYSE:SCCO) last posted its earnings results on Wednesday, October 21st. The basic materials company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.03 by $0.12. Southern Copper had a net margin of 37.16% and a return on equity of 53.46%. The firm had revenue of $4.70 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same period in the prior year, the business posted $1.35 earnings per share. Sell-side analysts anticipate that Southern Copper will post 8.03 EPS for the current fiscal year.

Southern Copper Company Profile

Southern Copper Corporation (NYSE:SCCO) is a mining and metals company engaged primarily in the exploration, development, extraction, processing and production of copper. The company also produces molybdenum, zinc, silver and lead, along with related byproducts. Its operations include open-pit mines, underground mines, concentrators, smelters, refineries and other processing facilities.

Southern Copper operates mainly in Peru and Mexico. Its Peruvian assets include the Toquepala and Cuajone copper mines, while its Mexican operations include the Buenavista del Cobre and La Caridad mines, as well as associated processing and infrastructure facilities.