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

Methanex Co. (NASDAQ:MEOH) (TSE:MX) declared a quarterly dividend on Wednesday, November 20th,Wall Street Journal reports. Investors of record on Tuesday, December 17th will be given a dividend of 0.185 per share by the specialty chemicals company on Tuesday, December 31st. This represents a $0.74 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Tuesday, December 17th.

Methanex has increased its dividend payment by an average of 15.6% annually over the last three years. Methanex has a 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 Stock Performance

Shares of MEOH stock traded down $0.16 during mid-day trading on Wednesday, hitting $44.31. The stock had a trading volume of 131,431 shares, compared to its average volume of 301,121. Methanex has a fifty-two week low of $36.13 and a fifty-two week high of $56.43. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.34 and a quick ratio of 1.01. The company’s 50-day simple moving average is $41.02 and its 200-day simple moving average is $45.70. The firm has a market cap of $2.99 billion, a PE ratio of 20.78 and a beta of 1.36.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Piper Sandler boosted their target price on Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Tuesday. Barclays upped their price target on shares of Methanex from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. UBS Group reduced their price objective on shares of Methanex from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Raymond James lowered their target price on shares of Methanex from $62.00 to $54.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 11th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 target price on shares of Methanex in a report on Tuesday, September 3rd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.