PolyOne Co. (NYSE:POL) Declares Quarterly Dividend of $0.20

PolyOne Co. (NYSE:POL) declared a quarterly dividend on Thursday, July 11th, RTT News reports. Investors of record on Friday, September 13th will be paid a dividend of 0.195 per share by the specialty chemicals company on Friday, October 4th. This represents a $0.78 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Thursday, September 12th.

PolyOne has raised its dividend payment by an average of 20.5% annually over the last three years and has increased its dividend every year for the last 7 years. PolyOne has a payout ratio of 31.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect PolyOne to earn $2.79 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 28.0%.

Shares of POL opened at $34.33 on Wednesday. The business’s fifty day simple moving average is $31.69 and its two-hundred day simple moving average is $29.80. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 2.53. PolyOne has a 12 month low of $24.47 and a 12 month high of $45.34. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 1.33 and a beta of 1.73.

PolyOne (NYSE:POL) last posted its earnings results on Thursday, July 25th. The specialty chemicals company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. PolyOne had a return on equity of 33.07% and a net margin of 4.03%. The business had revenue of $903.80 million during the quarter, compared to analyst estimates of $933.34 million. During the same quarter last year, the company earned $0.71 EPS. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, research analysts forecast that PolyOne will post 2.6 EPS for the current year.

Several research firms recently commented on POL. SunTrust Banks raised PolyOne from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Friday, May 31st. ValuEngine raised PolyOne from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Wellington Shields upgraded shares of PolyOne from a “hold” rating to a “gradually accumulate” rating in a research note on Tuesday, June 11th. TheStreet raised shares of PolyOne from a “c+” rating to a “b-” rating in a report on Thursday, July 25th. Finally, Zacks Investment Research lowered shares of PolyOne from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $35.86.

About PolyOne

PolyOne Corporation provides specialized polymer materials, services, and solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates in four segments: Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions; and Distribution. The Color, Additives and Inks segment offers specialized color and additive concentrates in solid and liquid form for thermoplastics; dispersions for thermosets; and specialty inks, plastisols, and vinyl slush molding solutions.

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Dividend History for PolyOne (NYSE:POL)

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