Imperial Oil (IMO) Declares $0.50 Dividend
Imperial Oil said on April 28, 2023 that its board of directors declared a regular quarterly dividend of $0.50 per share ($2.00 annualized). Previously, the company paid $0.33 per share.
Shares must be purchased before the ex-div date of June 1, 2023 to qualify for the dividend. Shareholders of record as of June 2, 2023 will receive the payment on July 1, 2023.
At the current share price of $50.93 / share, the stock's dividend yield is 3.93%.
Additionally, the company's dividend payout ratio is 0.14. 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.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 512 funds or institutions reporting positions in Imperial Oil. This is an increase of 22 owner(s) or 4.49% in the last quarter. Average portfolio weight of all funds dedicated to IMO is 0.23%, a decrease of 4.27%. Total shares owned by institutions decreased in the last three months by 5.20% to 147,631K shares. 
The put/call ratio of IMO is 0.75, indicating a bullish outlook.
Analyst Price Forecast Suggests 17.04% Upside
As of April 24, 2023, the average one-year price target for Imperial Oil is 59.61. The forecasts range from a low of 50.68 to a high of $75.16. The average price target represents an increase of 17.04% from its latest reported closing price of 50.93.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Imperial Oil is 69,279MM. The projected annual non-GAAP EPS is 10.09.
What are Other Shareholders Doing?
First Eagle Investment Management holds 23,989K shares representing 4.11% ownership of the company. In it's prior filing, the firm reported owning 24,724K shares, representing a decrease of 3.06%. The firm increased its portfolio allocation in IMO by 0.18% over the last quarter.
SGENX - First Eagle Global Fund holds 10,896K shares representing 1.87% ownership of the company. No change in the last quarter.
Royal Bank Of Canada holds 10,159K shares representing 1.74% ownership of the company. In it's prior filing, the firm reported owning 10,246K shares, representing a decrease of 0.85%. The firm increased its portfolio allocation in IMO by 1.75% over the last quarter.
SGOVX - First Eagle Overseas Fund holds 7,544K shares representing 1.29% ownership of the company. In it's prior filing, the firm reported owning 8,489K shares, representing a decrease of 12.53%. The firm decreased its portfolio allocation in IMO by 20.70% over the last quarter.
Bank Of Montreal holds 5,632K shares representing 0.96% ownership of the company. In it's prior filing, the firm reported owning 3,413K shares, representing an increase of 39.40%. The firm increased its portfolio allocation in IMO by 85.08% over the last quarter.
This story originally appeared on Fintel.