Methanex Co. (MX) Announces Dividend Increase – $0.30 Per Share
Methanex Co. (TSE:MX) (NASDAQ:MEOH) announced a quarterly dividend on Friday, July 21st, Zacks reports. Investors of record on Saturday, September 16th will be paid a dividend of 0.30 per share on Saturday, September 30th. This represents a $1.20 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, September 14th. This is an increase from Methanex’s previous quarterly dividend of $0.28.
Shares of Methanex (TSE:MX) traded down 0.33% during mid-day trading on Friday, hitting $60.60. The company had a trading volume of 385,669 shares. The firm’s 50 day moving average is $57.80 and its 200-day moving average is $59.40. Methanex has a 12-month low of $38.09 and a 12-month high of $69.88. The firm has a market cap of $5.22 billion and a PE ratio of 23.58.
MX has been the subject of several research analyst reports. BMO Capital Markets restated an “outperform” rating and issued a C$57.00 price objective on shares of Methanex in a research report on Thursday, July 6th. Scotiabank restated a “sector perform” rating and issued a C$69.00 price objective on shares of Methanex in a research report on Tuesday, July 4th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of C$59.50.
In other Methanex news, insider Simon Christopher Maddren sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of C$56.15, for a total transaction of C$280,750.00. Insiders have sold a total of 5,300 shares of company stock valued at $294,070 in the last quarter.
Methanex Company Profile
Methanex Corp is a Canada-based producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.
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