Methanex Co. (TSE:MX) to Issue $0.47 Quarterly Dividend

Methanex Co. (TSE:MX) (NASDAQ:MEOH) declared a quarterly dividend on Thursday, July 18th, Zacks reports. Investors of record on Monday, September 16th will be given a dividend of 0.471 per share on Monday, September 30th. This represents a $1.88 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Friday, September 13th.

MX traded down C$0.39 during midday trading on Wednesday, hitting C$47.82. 291,216 shares of the company were exchanged, compared to its average volume of 280,600. The company’s 50 day simple moving average is C$45.41 and its 200 day simple moving average is C$62.33. The firm has a market capitalization of $3.40 billion and a price-to-earnings ratio of 10.27. The company has a current ratio of 1.04, a quick ratio of 0.65 and a debt-to-equity ratio of 119.50. Methanex has a 1-year low of C$40.11 and a 1-year high of C$107.07.

Methanex (TSE:MX) (NASDAQ:MEOH) last issued its quarterly earnings data on Wednesday, July 31st. The company reported C$0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.65 by C($0.20). The firm had revenue of C$982.35 million during the quarter, compared to analyst estimates of C$973.33 million. On average, equities analysts anticipate that Methanex will post 6.65 EPS for the current year.

In related news, Director Mark Allard acquired 2,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were acquired at an average cost of C$43.65 per share, with a total value of C$87,300.00. Following the completion of the acquisition, the director now directly owns 9,081 shares in the company, valued at approximately C$396,385.65. Also, Director John Floren bought 20,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of C$44.00 per share, for a total transaction of C$880,000.00. Following the transaction, the director now owns 79,733 shares of the company’s stock, valued at C$3,508,252.

Separately, BMO Capital Markets cut their price target on Methanex from C$70.00 to C$65.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. It also purchases methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.

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Dividend History for Methanex (TSE:MX)

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