Corteva, Inc. (NYSE:CTVA) to Issue Quarterly Dividend of $0.17

Corteva, Inc. (NYSE:CTVA) declared a quarterly dividend on Monday, January 27th,RTT News reports. Investors of record on Monday, March 3rd will be paid a dividend of 0.17 per share on Monday, March 17th. This represents a $0.68 annualized dividend and a yield of 1.06%.

Corteva has raised its dividend by an average of 6.9% per year over the last three years. Corteva has a payout ratio of 18.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Corteva to earn $3.22 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 21.1%.

Corteva Stock Performance

Corteva stock opened at $63.96 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $43.96 billion, a PE ratio of 64.61, a P/E/G ratio of 1.63 and a beta of 0.77. The firm has a fifty day simple moving average of $59.56 and a two-hundred day simple moving average of $57.53. Corteva has a twelve month low of $45.01 and a twelve month high of $64.32.

Corteva announced that its board has authorized a stock repurchase program on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CTVA has been the subject of several recent research reports. Royal Bank of Canada boosted their price target on shares of Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Oppenheimer reissued an “outperform” rating and issued a $70.00 price target (up from $69.00) on shares of Corteva in a research note on Friday, November 8th. Barclays boosted their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Wells Fargo & Company upped their price objective on shares of Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Finally, Citigroup lowered their price objective on shares of Corteva from $70.00 to $69.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and a consensus target price of $65.59.

Corteva Company Profile

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.