ICL Group Ltd. (NYSE:ICL) Declares Quarterly Dividend of $0.05

ICL Group Ltd. (NYSE:ICL) announced a quarterly dividend on Friday, January 1st. Shareholders of record on Tuesday, June 2nd will be paid a dividend of 0.0535 per share by the basic materials company on Wednesday, June 17th. This represents a c) annualized dividend and a yield of 3.2%. The ex-dividend date is Tuesday, June 2nd. This is a 15.1% increase from ICL Group’s previous quarterly dividend of $0.05.

ICL Group has increased its dividend payment by an average of 0.1%annually over the last three years. ICL Group has a payout ratio of 34.0% meaning its dividend is sufficiently covered by earnings. Analysts expect ICL Group to earn $0.44 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 36.4%.

ICL Group Price Performance

Shares of NYSE ICL opened at $6.65 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.80 and a current ratio of 1.38. The company has a market cap of $8.58 billion, a PE ratio of 33.23 and a beta of 0.86. The business has a 50-day simple moving average of $5.69 and a two-hundred day simple moving average of $5.48. ICL Group has a fifty-two week low of $4.76 and a fifty-two week high of $7.35.

ICL Group (NYSE:ICL) last issued its quarterly earnings results on Wednesday, May 13th. The basic materials company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.92 billion. ICL Group had a return on equity of 7.84% and a net margin of 3.52%. As a group, equities analysts expect that ICL Group will post 0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On ICL Group

A number of institutional investors and hedge funds have recently modified their holdings of ICL. Norges Bank acquired a new stake in shares of ICL Group during the fourth quarter worth about $122,297,000. Altshuler Shaham Ltd lifted its holdings in shares of ICL Group by 96.6% during the fourth quarter. Altshuler Shaham Ltd now owns 26,349,667 shares of the basic materials company’s stock worth $151,160,000 after purchasing an additional 12,946,737 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of ICL Group by 42.3% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 19,537,777 shares of the basic materials company’s stock worth $112,054,000 after purchasing an additional 5,805,699 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of ICL Group by 120.2% during the first quarter. Goldman Sachs Group Inc. now owns 4,153,799 shares of the basic materials company’s stock worth $23,635,000 after purchasing an additional 2,267,245 shares during the period. Finally, Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD lifted its holdings in ICL Group by 32.3% in the fourth quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD now owns 6,060,600 shares of the basic materials company’s stock valued at $34,768,000 after acquiring an additional 1,481,084 shares during the period. Institutional investors and hedge funds own 13.38% of the company’s stock.

About ICL Group

ICL Group is a global specialty minerals and chemicals company headquartered in Tel Aviv, Israel. Established in its current form through the consolidation of Israeli government–owned chemical operations, ICL has evolved into a publicly traded entity on the New York Stock Exchange (NYSE: ICL). The company’s origins date back to state-driven mineral extraction in the Negev and the Dead Sea region, and over the decades it has grown through strategic acquisitions, technological innovation and a gradual privatization process completed in the early 2010s.

ICL’s core operations are organized into three principal business areas.