Methanex Co. to Issue Quarterly Dividend of $0.19 (NASDAQ:MEOH)

Methanex Co. (NASDAQ:MEOH) (TSE:MX) announced a quarterly dividend on Tuesday, November 19th,Wall Street Journal reports. Shareholders of record on Tuesday, December 17th will be paid a dividend of 0.185 per share by the specialty chemicals company on Tuesday, December 31st. This represents a $0.74 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Tuesday, December 17th.

Methanex has raised its dividend payment by an average of 15.6% annually over the last three years. Methanex has a dividend payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Methanex to earn $3.63 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 20.4%.

Methanex Trading Up 2.3 %

Methanex stock traded up $1.03 during mid-day trading on Thursday, hitting $45.45. 259,112 shares of the company’s stock were exchanged, compared to its average volume of 301,266. The company has a quick ratio of 1.01, a current ratio of 1.34 and a debt-to-equity ratio of 0.79. Methanex has a fifty-two week low of $36.13 and a fifty-two week high of $56.43. The company’s 50 day simple moving average is $41.18 and its 200-day simple moving average is $45.69. The firm has a market capitalization of $3.06 billion, a P/E ratio of 20.76 and a beta of 1.36.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. UBS Group dropped their target price on Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Barclays lifted their price target on shares of Methanex from $44.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Royal Bank of Canada restated a “sector perform” rating and set a $55.00 price objective on shares of Methanex in a research note on Tuesday, September 3rd. Raymond James dropped their target price on Methanex from $62.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday, September 11th. Finally, StockNews.com upgraded shares of Methanex from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Methanex presently has an average rating of “Moderate Buy” and a consensus target price of $55.88.

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.