ICL Group Ltd (ICL) to Issue Quarterly Dividend of $0.04 on September 18th

ICL Group Ltd (NYSE:ICL) declared a quarterly dividend on Wednesday, August 14th, Zacks reports. Shareholders of record on Wednesday, September 4th will be given a dividend of 0.037 per share by the basic materials company on Wednesday, September 18th. This represents a $0.15 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Wednesday, September 4th.

ICL Group has increased its dividend payment by an average of 60.8% per year over the last three years. ICL Group has a payout ratio of 45.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect ICL Group to earn $0.43 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 46.5%.

ICL Group Stock Down 0.2 %

Shares of NYSE:ICL opened at $4.59 on Monday. The company has a 50 day moving average of $4.31 and a 200-day moving average of $4.69. ICL Group has a one year low of $3.80 and a one year high of $6.11. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 6.10 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.62 and a quick ratio of 0.94.

ICL Group (NYSE:ICL) last released its earnings results on Wednesday, August 14th. The basic materials company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. ICL Group had a net margin of 6.08% and a return on equity of 8.41%. During the same quarter in the previous year, the business earned $0.13 EPS. On average, sell-side analysts forecast that ICL Group will post 0.36 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Barclays cut their target price on ICL Group from $4.50 to $4.00 and set an “underweight” rating on the stock in a research note on Friday, August 16th.

About ICL Group

ICL Group Ltd, together with its subsidiaries, operates as a specialty minerals and chemicals company worldwide. It operates in four segments: Industrial Products, Potash, Phosphate Solutions, and Growing Solutions. The Industrial Products segment produces bromine out of a solution that is a by-product of the potash production process, as well as bromine-based compounds; produces various grades of potash, salt, magnesium chloride, and magnesia products; and produces and markets phosphorous-based flame retardants and other phosphorus-based products.