Goldcorp Inc. (NYSE:GG) (TSE:G) announced a quarterly dividend on Friday, September 1st, Wall Street Journal reports. Stockholders of record on Thursday, September 14th will be given a dividend of 0.02 per share by the basic materials company on Friday, September 22nd. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Wednesday, September 13th.

Goldcorp has decreased its dividend by an average of 41.5% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Goldcorp has a payout ratio of 21.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Goldcorp to earn $0.49 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 16.3%.

Goldcorp (GG) remained flat at $13.75 during midday trading on Friday. 4,826,423 shares of the company traded hands. The company’s 50 day moving average price is $13.11 and its 200-day moving average price is $14.12. The firm has a market capitalization of $11.89 billion, a PE ratio of 25.23 and a beta of 0.02. Goldcorp has a 52 week low of $11.91 and a 52 week high of $17.87.

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Several equities research analysts recently commented on the stock. Jefferies Group LLC set a $13.00 price target on shares of Goldcorp and gave the company a “hold” rating in a research report on Tuesday, August 15th. Royal Bank Of Canada restated a “hold” rating and issued a $16.00 price target on shares of Goldcorp in a research report on Tuesday, June 13th. BidaskClub upgraded shares of Goldcorp from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Macquarie upgraded shares of Goldcorp from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 12th. Finally, Scotiabank set a $18.00 price target on shares of Goldcorp and gave the company an “outperform” rating in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $16.64.

Goldcorp Company Profile

Goldcorp Inc is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico, and Central and South America. The Company is engaged in the sale of gold, silver, lead, zinc and copper. The Company’s segments include Red Lake Gold Mines Ontario Partnership (Red Lake), Goldcorp Canada Ltd./Goldcorp Inc (Porcupine), Musselwhite, Les Mines Opinaca Ltee (Eleonore), Minera Penasquito SA de C.V.

Dividend History for Goldcorp (NYSE:GG)

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