Methanex (MEOH) Declares $0.18 Dividend
Methanex said on July 13, 2023 that its board of directors declared a regular quarterly dividend of $0.18 per share ($0.74 annualized). Previously, the company paid $0.18 per share.
Shares must be purchased before the ex-div date of September 14, 2023 to qualify for the dividend. Shareholders of record as of September 16, 2023 will receive the payment on September 30, 2023.
At the current share price of $42.49 / share, the stock's dividend yield is 1.74%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.62%, the lowest has been 0.71%, and the highest has been 6.06%. The standard deviation of yields is 0.78 (n=236).
The current dividend yield is 0.16 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.20. 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.
What is the Fund Sentiment?
There are 5 funds or institutions reporting positions in Methanex. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to MEOH is 0.01%, a decrease of 13.97%. Total shares owned by institutions decreased in the last three months by 15.94% to 1,710K shares. 
The put/call ratio of MEOH is 0.63, indicating a bullish outlook.
Analyst Price Forecast Suggests 0.80% Upside
As of June 2, 2023, the average one-year price target for Methanex is 42.83. The forecasts range from a low of 36.46 to a high of $50.28. The average price target represents an increase of 0.80% from its latest reported closing price of 42.49.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Methanex is 3,848MM. The projected annual non-GAAP EPS is 3.34.
What are Other Shareholders Doing?
QFVOX - Pear Tree Polaris Foreign Value Fund Ordinary Shares holds 1,708K shares representing 2.51% ownership of the company. In it's prior filing, the firm reported owning 2,032K shares, representing a decrease of 19.00%. The firm increased its portfolio allocation in MEOH by 5.19% over the last quarter.
MFDX - PIMCO RAFI Dynamic Multi-Factor International Equity ETF holds 2K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 2K shares, representing an increase of 15.97%. The firm increased its portfolio allocation in MEOH by 14.58% over the last quarter.
Methanex Background Information
(This description is provided by the company.)
Methanex Corporation is a Vancouver-based, publicly traded company and is the world's largest producer and supplier of methanol to major international markets.
Additional reading:
- Annual Information Form of the Registrant dated March 10, 2023
- Management’s Discussion and Analysis for the Year Ended December 31, 2022
- Audited Consolidated Financial Statements of the Registrant for the years ended December 31, 202
- Annual Information Form of the Registrant dated March 11, 2022
This story originally appeared on Fintel.