ICL Group Ltd (NYSE:ICL) to Issue $0.01 Quarterly Dividend

ICL Group Ltd (NYSE:ICL) announced a quarterly dividend on Tuesday, November 12th,Wall Street Journal reports. Stockholders of record on Wednesday, December 4th will be paid a dividend of 0.0133 per share by the basic materials company on Wednesday, December 18th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Wednesday, December 4th.

ICL Group has increased its dividend payment by an average of 60.8% annually over the last three years. ICL Group has a dividend payout ratio of 45.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ICL Group to earn $0.41 per share next year, which means the company should continue to be able to cover its $0.19 annual dividend with an expected future payout ratio of 46.3%.

ICL Group Price Performance

Shares of NYSE ICL opened at $4.29 on Thursday. The business’s 50 day moving average is $4.11 and its 200-day moving average is $4.35. The firm has a market cap of $5.64 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 6.02 and a beta of 1.23. ICL Group has a 1-year low of $3.79 and a 1-year high of $5.54. The company has a current ratio of 1.62, a quick ratio of 0.94 and a debt-to-equity ratio of 0.31.

ICL Group (NYSE:ICL) last posted its earnings results on Monday, November 11th. The basic materials company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. ICL Group had a return on equity of 8.35% and a net margin of 5.83%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the firm earned $0.11 earnings per share. Equities research analysts predict that ICL Group will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ICL shares. StockNews.com raised shares of ICL Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Barclays dropped their price target on shares of ICL Group from $4.50 to $4.00 and set an “underweight” rating for the company in a research report on Friday, August 16th.

ICL Group Company Profile

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.