PolyOne Corporation (NYSE:POL) announced a quarterly dividend on Thursday, October 12th, RTT News reports. Shareholders of record on Friday, December 15th will be given a dividend of 0.175 per share by the specialty chemicals company on Wednesday, January 10th. This represents a $0.70 dividend on an annualized basis and a yield of 1.71%. This is a positive change from PolyOne Corporation’s previous quarterly dividend of $0.14.

PolyOne Corporation has raised its dividend by an average of 27.8% annually over the last three years and has raised its dividend every year for the last 5 years. PolyOne Corporation has a dividend payout ratio of 24.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect PolyOne Corporation to earn $2.49 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 21.7%.

PolyOne Corporation (POL) traded down 0.10% during mid-day trading on Thursday, reaching $40.87. 207,281 shares of the company’s stock were exchanged. The company’s 50-day moving average is $38.24 and its 200 day moving average is $37.34. PolyOne Corporation has a one year low of $28.77 and a one year high of $41.24. The firm’s market capitalization is $3.34 billion.

PolyOne Corporation (NYSE:POL) last posted its quarterly earnings data on Tuesday, July 25th. The specialty chemicals company reported $0.63 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.63. PolyOne Corporation had a negative net margin of 1.75% and a positive return on equity of 25.84%. The firm had revenue of $814.10 million for the quarter, compared to the consensus estimate of $812.52 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities analysts predict that PolyOne Corporation will post $2.21 earnings per share for the current fiscal year.

Several equities analysts have recently issued reports on POL shares. Zacks Investment Research upgraded shares of PolyOne Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 18th. BidaskClub upgraded shares of PolyOne Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Jefferies Group LLC restated a “hold” rating and set a $42.00 price objective on shares of PolyOne Corporation in a report on Friday, September 15th. CIBC started coverage on shares of PolyOne Corporation in a report on Thursday, August 17th. They set an “outperform” rating and a $43.00 price objective on the stock. Finally, Robert W. Baird restated a “buy” rating and set a $42.00 price objective on shares of PolyOne Corporation in a report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. PolyOne Corporation has an average rating of “Hold” and a consensus target price of $42.50.

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About PolyOne Corporation

PolyOne Corporation (PolyOne) provides specialized polymer materials, services and solutions. The Company’s segments include Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions, and PolyOne Distribution. The Color, Additives and Inks segment provides custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets.

Dividend History for PolyOne Corporation (NYSE:POL)

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