ICL Group Ltd (NYSE:ICL – Get Free Report) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Stockholders of record on Wednesday, March 12th will be given a dividend of 0.0403 per share by the basic materials company on Tuesday, March 25th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Wednesday, March 12th. This is an increase from ICL Group’s previous quarterly dividend of $0.01.
ICL Group has decreased its dividend payment by an average of 3.5% per year over the last three years. ICL Group has a payout ratio of 43.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ICL Group to earn $0.42 per share next year, which means the company should continue to be able to cover its $0.21 annual dividend with an expected future payout ratio of 50.0%.
ICL Group Stock Up 2.8 %
Shares of NYSE ICL opened at $6.15 on Friday. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 7.10 and a beta of 1.23. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.91 and a current ratio of 1.56. The stock has a 50 day moving average price of $5.65 and a 200 day moving average price of $4.79. ICL Group has a 52-week low of $3.79 and a 52-week high of $6.57.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on ICL shares. StockNews.com lowered ICL Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday. BMO Capital Markets lifted their price target on ICL Group from $6.00 to $6.50 and gave the company a “market perform” rating in a research report on Thursday. Finally, Barclays upgraded ICL Group from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $4.00 to $6.00 in a research report on Tuesday, January 21st.
Get Our Latest Report on ICL Group
ICL Group Company Profile
ICL Group Ltd, together with its subsidiaries, operates as a specialty minerals and chemicals company worldwide. It operates in four segments: Industrial Products, Potash, Phosphate Solutions, and Growing Solutions. The Industrial Products segment produces bromine out of a solution that is a by-product of the potash production process, as well as bromine-based compounds; produces various grades of potash, salt, magnesium chloride, and magnesia products; and produces and markets phosphorous-based flame retardants and other phosphorus-based products.
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