PolyOne Corporation (POL) to Issue Dividend Increase – $0.18 Per Share
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.
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