Imperial Oil Limited (NYSEAMERICAN:IMO) Declares Quarterly Dividend of $0.50

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) announced a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Stockholders of record on Wednesday, March 5th will be given a dividend of 0.4972 per share by the energy company on Tuesday, April 1st. This represents a $1.99 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Wednesday, March 5th. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.43.

Imperial Oil has increased its dividend payment by an average of 32.3% annually over the last three years. Imperial Oil has a payout ratio of 26.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Imperial Oil to earn $6.39 per share next year, which means the company should continue to be able to cover its $1.67 annual dividend with an expected future payout ratio of 26.1%.

Imperial Oil Price Performance

Shares of IMO stock opened at $66.80 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17. Imperial Oil has a twelve month low of $55.82 and a twelve month high of $80.17. The company has a market capitalization of $34.00 billion, a P/E ratio of 10.11 and a beta of 1.44.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. downgraded Imperial Oil from a “neutral” rating to an “underweight” rating in a research note on Thursday, December 19th. Wolfe Research downgraded Imperial Oil from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, Imperial Oil currently has a consensus rating of “Hold” and a consensus price target of $109.00.

Imperial Oil Company Profile

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.