Imperial Oil Limited (NYSEAMERICAN:IMO) Declares Quarterly Dividend of $0.43

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) declared a quarterly dividend on Monday, November 4th, Wall Street Journal reports. Stockholders of record on Tuesday, December 3rd will be paid a dividend of 0.4304 per share by the energy company on Wednesday, January 1st. This represents a $1.72 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Tuesday, December 3rd.

Imperial Oil has increased its dividend by an average of 42.8% per year over the last three years. Imperial Oil has a payout ratio of 29.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Imperial Oil to earn $5.34 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 32.2%.

Imperial Oil Stock Performance

NYSEAMERICAN:IMO traded up $0.05 on Monday, hitting $70.77. 605,974 shares of the stock were exchanged, compared to its average volume of 401,331. The company has a current ratio of 1.40, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17. Imperial Oil has a 52 week low of $52.97 and a 52 week high of $80.17. The stock has a market capitalization of $37.40 billion, a P/E ratio of 10.02 and a beta of 1.44.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last announced its quarterly earnings data on Friday, November 1st. The energy company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.23. Imperial Oil had a net margin of 10.05% and a return on equity of 22.73%. The firm had revenue of $9.72 billion for the quarter, compared to analysts’ expectations of $11.29 billion. Equities analysts predict that Imperial Oil will post 6.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wolfe Research began coverage on Imperial Oil in a report on Thursday, July 18th. They set an “outperform” rating and a $108.00 target price on the stock. StockNews.com lowered shares of Imperial Oil from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $110.00 price objective on shares of Imperial Oil in a research note on Wednesday, September 25th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Imperial Oil presently has an average rating of “Hold” and a consensus target price of $101.00.

About Imperial Oil

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.