Celanese Corp - Series A (CE) Declares $0.70 Dividend
Celanese Corp - Series A said on October 18, 2023 that its board of directors declared a regular quarterly dividend of $0.70 per share ($2.80 annualized). Previously, the company paid $0.70 per share.
Shareholders of record as of October 30, 2023 will receive the payment on November 13, 2023.
At the current share price of $112.94 / share, the stock's dividend yield is 2.48%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.23%, the lowest has been 1.59%, and the highest has been 3.99%. The standard deviation of yields is 0.42 (n=236).
The current dividend yield is 0.59 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.24. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
- Read the Ultimate Guide to Dividend Harvesting.
The company's 3-Year dividend growth rate is 0.13%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1260 funds or institutions reporting positions in Celanese Corp - Series A. This is a decrease of 47 owner(s) or 3.60% in the last quarter. Average portfolio weight of all funds dedicated to CE is 0.20%, a decrease of 4.15%. Total shares owned by institutions increased in the last three months by 11.68% to 139,354K shares. 
The put/call ratio of CE is 0.80, indicating a bullish outlook.
Analyst Price Forecast Suggests 20.29% Upside
As of October 5, 2023, the average one-year price target for Celanese Corp - Series A is 135.85. The forecasts range from a low of 111.10 to a high of $162.75. The average price target represents an increase of 20.29% from its latest reported closing price of 112.94.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Celanese Corp - Series A is 12,553MM, an increase of 21.91%. The projected annual non-GAAP EPS is 13.50.
What are Other Shareholders Doing?
Capital Research Global Investors holds 9,997K shares representing 9.18% ownership of the company. In it's prior filing, the firm reported owning 71K shares, representing an increase of 99.29%. The firm increased its portfolio allocation in CE by 13,994.76% over the last quarter.
Wellington Management Group Llp holds 7,517K shares representing 6.91% ownership of the company. In it's prior filing, the firm reported owning 7,104K shares, representing an increase of 5.49%. The firm increased its portfolio allocation in CE by 7.38% over the last quarter.
Dodge & Cox holds 7,018K shares representing 6.45% ownership of the company. In it's prior filing, the firm reported owning 7,078K shares, representing a decrease of 0.86%. The firm increased its portfolio allocation in CE by 3.26% over the last quarter.
AGTHX - GROWTH FUND OF AMERICA holds 6,831K shares representing 6.28% ownership of the company. In it's prior filing, the firm reported owning 1,727K shares, representing an increase of 74.71%. The firm increased its portfolio allocation in CE by 345.55% over the last quarter.
AIVSX - INVESTMENT CO OF AMERICA holds 5,803K shares representing 5.33% ownership of the company. In it's prior filing, the firm reported owning 658K shares, representing an increase of 88.66%. The firm increased its portfolio allocation in CE by 633.67% over the last quarter.
Celanese Background Information
(This description is provided by the company.)
Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Its two complementary business cores, Acetyl Chain and Materials Solutions, use the full breadth of Celanese's global chemistry, technology and business expertise to create value for its customers and the corporation. As Celanese partners with its customers to solve their most critical business needs, the company strives to make a positive impact on its communities and the world through The Celanese Foundation. Based in Dallas, Celanese employs approximately 7,700 employees worldwide and had 2020 net sales of $5.7 billion.
Additional reading:
- Ganesh Moorthy Elected to Celanese Board of Directors
- CELANESE US HOLDINGS LLC THE GUARANTORS PARTY HERETO, as Guarantors and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee and COMPUTERSHARE TRUST COMPANY, N.A., as Base Trustee (as successor to Wells Fargo Bank, National Association) 6.350% S
- Celanese Announces Early Results And Upsizing Of Cash Tender Offer Of Certain Celanese US Holdings LLC Debt Securities
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