Braskem SA (BAK) Increases Dividend to $0.76 Per Share
Braskem SA (NYSE:BAK) announced a dividend on Wednesday, September 28th. Shareholders of record on Tuesday, October 11th will be given a dividend of 0.764 per share on Tuesday, October 18th. The ex-dividend date is Thursday, October 6th. This is a positive change from Braskem SA’s previous dividend of $0.65.
Shares of Braskem SA (NYSE:BAK) opened at 15.24 on Wednesday. Braskem SA has a 52-week low of $9.44 and a 52-week high of $16.25. The stock has a market capitalization of $6.07 billion, a P/E ratio of 6.58 and a beta of 1.69. The firm’s 50-day moving average price is $14.31 and its 200-day moving average price is $12.86.
Separately, Zacks Investment Research cut Braskem SA from a “buy” rating to a “strong sell” rating in a research report on Monday, July 25th.
Several hedge funds have recently made changes to their positions in the company. Jane Street Group LLC boosted its stake in shares of Braskem SA by 5.2% in the second quarter. Jane Street Group LLC now owns 31,960 shares of the company’s stock worth $379,000 after buying an additional 1,579 shares during the last quarter. Advisor Group Inc. bought a new stake in shares of Braskem SA during the second quarter worth $110,000. Nuveen Fund Advisors LLC bought a new stake in shares of Braskem SA during the second quarter worth $173,000. Bank of New York Mellon Corp bought a new stake in shares of Braskem SA during the second quarter worth $173,000. Finally, Trexquant Investment LP bought a new stake in shares of Braskem SA during the second quarter worth $226,000. Institutional investors and hedge funds own 1.15% of the company’s stock.
Braskem SA Company Profile
Braskem SA produces thermoplastic resins. The Company’s segments are Basic petrochemicals, Polyolefins, Vinyls, the United States and Europe, and Chemical distribution. It is also engaged in the import and export of chemicals, petrochemicals and fuels, the production, supply and sale of utilities such as steam, water, compressed air, industrial gases, the provision of industrial services, and the production, supply and sale of electric energy.
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