Compass Minerals International, Inc. (NYSE:CMP) announced a quarterly dividend on Monday, August 6th, Wall Street Journal reports. Shareholders of record on Friday, August 31st will be paid a dividend of 0.72 per share by the basic materials company on Monday, September 17th. This represents a $2.88 annualized dividend and a yield of 4.66%. The ex-dividend date is Thursday, August 30th.
Compass Minerals International has increased its dividend payment by an average of 6.3% per year over the last three years and has raised its dividend every year for the last 14 years. Compass Minerals International has a payout ratio of 100.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Compass Minerals International to earn $4.15 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 69.4%.
Shares of CMP opened at $61.80 on Tuesday. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.46 and a current ratio of 2.66. Compass Minerals International has a fifty-two week low of $56.50 and a fifty-two week high of $76.65. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 25.84 and a beta of 0.71.
Several equities research analysts have recently issued reports on the stock. ValuEngine lowered shares of Compass Minerals International from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Zacks Investment Research raised shares of Compass Minerals International from a “sell” rating to a “hold” rating in a research note on Thursday, May 3rd. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $71.50.
Compass Minerals International Company Profile
Compass Minerals International, Inc, produces and sells salt, and specialty plant nutrition and chemical products primarily in the United States, Canada, Brazil, and the United Kingdom. It operates in three segments: Salt, Plant Nutrition North America, and Plant Nutrition South America. The Salt segment offers sodium chloride and magnesium chloride, including rock salt, mechanically and solar evaporated salt, and brine and flake magnesium chloride products; and purchases potassium chloride and calcium chloride to sell as finished products or to blend with salt to produce specialty products.
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