Methanex Co. (TSE:MX) to Issue Dividend Increase – $0.25 Per Share

Methanex Co. (TSE:MX) (NASDAQ:MEOH) announced a quarterly dividend on Thursday, July 18th, Zacks reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.253 per share on Monday, September 30th. This represents a $1.01 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Monday, September 16th. This is a boost from Methanex’s previous quarterly dividend of $0.25.

Methanex Price Performance

MX stock opened at C$51.30 on Friday. The company has a debt-to-equity ratio of 131.58, a current ratio of 1.25 and a quick ratio of 1.59. Methanex has a 1 year low of C$49.21 and a 1 year high of C$74.25. The firm has a 50-day moving average of C$62.22 and a 200 day moving average of C$64.55. The company has a market cap of C$3.46 billion, a P/E ratio of 17.69, a PEG ratio of 0.44 and a beta of 1.82.

Methanex (TSE:MX) (NASDAQ:MEOH) last announced its earnings results on Tuesday, July 30th. The company reported C$0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.66 by C$0.19. Methanex had a return on equity of 10.21% and a net margin of 4.06%. The firm had revenue of C$1.26 billion during the quarter, compared to analyst estimates of C$1.35 billion. On average, sell-side analysts forecast that Methanex will post 5.6560088 EPS for the current year.

Wall Street Analyst Weigh In

MX has been the topic of a number of recent research reports. Barclays downgraded shares of Methanex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Tudor Pickering upgraded shares of Methanex to a “strong-buy” rating in a report on Wednesday. Finally, Piper Sandler upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th.

Insider Activity at Methanex

In other Methanex news, Senior Officer Kevin Price bought 500 shares of Methanex stock in a transaction on Thursday, September 12th. The stock was acquired at an average price of C$50.69 per share, with a total value of C$25,347.00. In related news, Senior Officer Kevin Price bought 500 shares of the stock in a transaction on Thursday, September 12th. The shares were acquired at an average price of C$50.69 per share, for a total transaction of C$25,347.00. Also, Director Dean Richardson purchased 1,500 shares of Methanex stock in a transaction dated Thursday, September 12th. The stock was bought at an average price of C$50.52 per share, with a total value of C$75,780.00. In the last ninety days, insiders have bought 2,100 shares of company stock valued at $106,186. 0.35% of the stock is owned by insiders.

About Methanex

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.