First Majestic Silver Corp. (NYSE:AG) to Issue Quarterly Dividend of $0.01

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) declared a quarterly dividend on Thursday, February 19th. Investors of record on Friday, February 27th will be paid a dividend of 0.0083 per share by the mining company on Monday, March 16th. This represents a c) annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Friday, February 27th. This is a 59.6% increase from First Majestic Silver’s previous quarterly dividend of $0.0052.

First Majestic Silver has a payout ratio of 8.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Majestic Silver to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 2.5%.

First Majestic Silver Stock Up 9.7%

NYSE AG traded up $2.19 during trading on Thursday, reaching $24.79. The company’s stock had a trading volume of 29,013,892 shares, compared to its average volume of 28,112,518. The company has a current ratio of 3.38, a quick ratio of 2.96 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $12.22 billion, a PE ratio of 177.07 and a beta of 0.85. First Majestic Silver has a 1-year low of $5.09 and a 1-year high of $27.90. The business has a 50-day moving average price of $20.12 and a 200-day moving average price of $14.55.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Thursday, February 19th. The mining company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. The company had revenue of $463.92 million for the quarter, compared to analyst estimates of $561.30 million. First Majestic Silver had a net margin of 7.07% and a return on equity of 3.14%. First Majestic Silver’s quarterly revenue was up 169.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.03 EPS. On average, research analysts forecast that First Majestic Silver will post 0.54 earnings per share for the current fiscal year.

About First Majestic Silver

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.