Southern Copper Corporation (NYSE:SCCO) Increases Dividend to $1.10 Per Share

Southern Copper Corporation (NYSE:SCCO) declared a quarterly dividend on Thursday, July 16th. Shareholders of record on Tuesday, August 11th will be paid a dividend of 1.10 per share by the basic materials company on Thursday, August 27th. This represents a c) annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, August 11th. This is a 10.0% increase from Southern Copper’s previous quarterly dividend of $1.00.

Southern Copper has raised its dividend by an average of 0.2%annually over the last three years. Southern Copper has a payout ratio of 99.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Southern Copper to earn $7.01 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 62.8%.

Southern Copper Trading Up 3.3%

Shares of SCCO stock opened at $199.38 on Friday. The company has a market capitalization of $164.70 billion, a P/E ratio of 29.15, a price-to-earnings-growth ratio of 1.71 and a beta of 1.11. The company has a current ratio of 5.06, a quick ratio of 3.89 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average is $181.84 and its two-hundred day moving average is $184.71. Southern Copper has a twelve month low of $92.57 and a twelve month high of $223.88.

Southern Copper shares are scheduled to split before the market opens on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly issued shares will be payable to shareholders after the closing bell on Monday, August 10th.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The business had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.37 billion. The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. Equities analysts forecast that Southern Copper will post 7.63 EPS for the current year.

About Southern Copper

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.