ICL Group Ltd. (NYSE:ICL) announced a quarterly dividend on Thursday, July 30th, Wall Street Journal reports. Shareholders of record on Wednesday, September 2nd will be paid a dividend of 0.028 per share by the basic materials company on Wednesday, September 16th. This represents a $0.11 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from ICL Group’s previous quarterly dividend of $0.02.
ICL Group has raised its dividend payment by an average of 22.4% per year over the last three years and has raised its dividend every year for the last 3 years. ICL Group has a payout ratio of 35.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ICL Group to earn $0.28 per share next year, which means the company should continue to be able to cover its $0.07 annual dividend with an expected future payout ratio of 25.0%.
Shares of ICL Group stock opened at $3.10 on Friday. The company has a current ratio of 1.51, a quick ratio of 0.92 and a debt-to-equity ratio of 0.60. ICL Group has a 12 month low of $2.68 and a 12 month high of $5.50. The business’s 50-day moving average price is $3.18 and its 200-day moving average price is $3.50.
Several equities analysts recently commented on ICL shares. ValuEngine lowered shares of ICL Group from a “hold” rating to a “sell” rating in a report on Thursday, April 30th. Zacks Investment Research raised ICL Group from a “sell” rating to a “hold” rating in a research note on Wednesday, June 17th.
About ICL Group
ICL Group Ltd. operates as a specialty minerals and chemicals company worldwide. It operates in four segments: Industrial Products, Potash, Phosphate Solutions, and Innovative Ag Solutions (IAS). The Industrial Products segment produces bromine out of a solution that is a by-product of the potash production process, as well as bromine-based compounds; produces various grades of potash, salt, magnesium chloride, and magnesia products; and produces and markets phosphorous-based flame retardants and other phosphorus-based products.
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