Methanex Co. (MX) to Issue Quarterly Dividend of $0.43 on September 30th

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Methanex Co. (TSE:MX) (NASDAQ:MEOH) declared a quarterly dividend on Thursday, July 19th, Zacks reports. Stockholders of record on Sunday, September 16th will be paid a dividend of 0.434 per share on Sunday, September 30th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Thursday, September 13th. This is a positive change from Methanex’s previous quarterly dividend of $0.43.

Shares of MX stock traded up C$0.91 during mid-day trading on Friday, reaching C$95.32. The company’s stock had a trading volume of 180,100 shares, compared to its average volume of 284,929. Methanex has a 12-month low of C$60.20 and a 12-month high of C$99.65.

Methanex (TSE:MX) (NASDAQ:MEOH) last issued its earnings results on Wednesday, July 25th. The company reported C$2.26 EPS for the quarter, beating the Zacks’ consensus estimate of C$2.19 by C$0.07. Methanex had a net margin of 9.86% and a return on equity of 18.05%. The business had revenue of C$1.23 billion for the quarter.

In other Methanex news, insider Kevin Price sold 835 shares of the firm’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of C$89.72, for a total transaction of C$74,916.20. Also, Director Wade Wiggins sold 9,900 shares of the firm’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of C$76.00, for a total transaction of C$752,400.00. Over the last ninety days, insiders have sold 32,135 shares of company stock valued at $2,894,938.

MX has been the subject of a number of recent analyst reports. Sanford C. Bernstein lowered their price target on shares of Methanex from C$44.64 to C$44.44 in a report on Friday, July 27th. BMO Capital Markets reaffirmed an “outperform” rating and set a C$80.00 price target on shares of Methanex in a report on Wednesday, May 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of C$71.24.

Methanex Company Profile

Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells 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.

Further Reading: Dividend Stocks – Are They Right For You?

Dividend History for Methanex (TSE:MX)

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